Serbia mining: McKinsey analyzing copper producer future options

23. February 2016. / Mining

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According to the Prime Minister Aleksandar Vucic RTB Bor is working with losses between 1.700 and 1.800 euro per ton. The prime minister says that at the moment the Government has no solution to cover losses of the company, but that it will not be shut down.

“We have big troubles with the price of copper. The price of copper went from 9.500 thousand US dollars per ton to 4.150 dollars per ton ”

He said that a team from the consulting company McKinsey (McKinsey) went to diagnose the condition in RTB Bor. This process will last for a month and a half as the prime minister said.

“Let’s see what it is that we can do. As you can see the most powerful companies are closing down mines around the world … We cannot close RTB Bor. Not only Bor, Kladovo, Negotin and Kladovo, but also four municipalities from Timočki district and some other municipalities of Pomoravski and Braničevski district cannot survive without RTB, “said Vučić.

He added that we have to find a way to negotiate a way to assist the company with IMF without, as he said, “spending money we do not have.”

However, he said that at the moment he does not know in what way to make up for the losses of RTB Bor.

“I cannot offer a solution when we have not done the diagnostic yet. When we do the diagnostics, then I’ll offer a solution, “said the Prime Minister, transmits serbia-energy.eu

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