Serbia 's Hesteel has agreed to become a strategic partner in state-owned Serbian copper mine RTB Bor after pledging to pay $ an additional $200m for a 63% stake. The acquisition is part of a wider bid by the Serbian government to spur the country's economic growth by selling off state-owned businesses to relieve pressure on the state budget. RTB Bor's copper exports in the first half of 2018 rose 23% to 15 000 t, company data showed. As part of the agreement, Zijin Mining will spend $135m on a new copper mine and 1.26bn towards environmental improvement schemes, but will also pay an additional $200m to settle the Serbian mine's debt.
Serbia 's Hesteel has agreed to become a strategic partner in state-owned Serbian copper mine RTB Bor after pledging to pay $ an additional $200m for a 63% stake. The acquisition is part of a wider bid by the Serbian government to spur the country's economic growth by selling off state-owned businesses to relieve pressure on the state budget. As part of the agreement, Zijin Mining will spend $135m on a new copper mine and 1.26bn towards environmental improvement schemes, but will also pay an additional $200m to settle the Serbian mine's debt.