Investing in Rtb is good Strategic decision

14. April 2011. / Uncategorized

The renewal of mining in order to increase profitability RTB, the Serbian government has invested significant resources. Two billion was invested in the purchase of new mining equipment in the first stage, given the Canadian bank guarantee for the new smelter project, rather than small funds will be provided and the obligations to local contractors during the construction of new pyrometallurgical plants. However, after the Government converted the money in possession, and I think we have a good investment – said Kalanovica. It is added to its commitment, as a coordinator between ministries and relevant institutions, monitor the implementation of state programs, control of funds invested and all initiatives from the court upon the Government of Serbia.

I see that all three major programs that are implemented in RTB Bor procurement of mining equipment, construction of new smelters implement the established schedule and that everything runs like clockwork. Purchase of machinery for mines, which will be implemented in four phases, going great, and will RTB in the third occasion to invest 2.4 billion of its own funds in additional machinery. When it comes to investing in a new smelter, but the first tranche approved loan of 15 million, and is justified by the preparatory work, license and basic engineering. Reconstruction Krivelj flotation, as a third line of revitalization RTB also agreed, and by the end of this year, the company profit and modern technology of preparation of mineral raw materials said Deputy Prime Minister.

In the black after two decades

Favorable business environment for the smooth realization of production, and development plans of the company, according to Director General Basin Blagoja Spaskovskog, largely created “gold” valued support of public authorities, institutions and local saouprava Bora and Majdanpek. – Use, therefore, the opportunity to thank the Government of Serbia for all she has done for RTB Bor, but also to say that the results were there. We are, after more than two decades of losses, in 2010. year profit from operations of 35.5 million dollars! Thanks to this result annulled all the negative impacts of the calculated exchange rates for foreign currency liabilities to the London Basin and the Paris Club of creditors, and a positive operating result “ispeglao” the long-minus, which is a burden for business Basin interest arrangements assembled until 2000. year, and other financial and commercial enterprise obligations of the period. We have therefore entered summary financial statement plus 1.66 million dollars – said the head of copper complexes.

On these results, he said, resulted primarily higher production and the favorable market conditions, supply and sale, as well as strict cost control thanks to businesses where they are now lower by 32 percent. – This plus a great accomplishment given the fact that only two years ago made a loss of 48 million dollars, and a similar average price of copper! RTB has “stood on their feet” and is now in a position to state returns invested assets – said Spaskovski.

He added, however, that most valuable business results were made in the stripping effect and the Bor deposits majdanpek’s because with both surface mine removed last year, 15.3 million tons raskrivke. – It is 2.2 times more than in 2008. And 38.4 percent better than last year. Here we have substantially changed the structure of excavation, and now one tonne of ore we raskrivke 1.46 tons, the highest ratio in the last 20 years.
Much better liquidity Basin actualized the question of regulating the company’s liabilities to the local government and residents of nearby villages, and Verity Kalanovic the opportunity to local residents through the media saying Krivelj that the Serbian government guarantee for their achievement in its entirety.

Source serbia-energy.com

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