Chinese company CNCT interested in RTB Bor – Majority ownership among requirements
This is a rare instance of negotiations being carried out directly between the governments of China and Serbia, and the company which buys RTB Bor is sure to be state-owned. The agreement on the mine will be reached as part of the strategic contract signed between the two countries.
The agreement with the Chinese would, at least in principle, remove the current director, Blagoje Spaskovski, from his position, and his remaining in the company is one of the key unknown aspects of the arrangement. Another “difficult” aspect of the negotiations relates to the number of workers to stay in the mines. RTB Bor currently has 5,027 workers, of which over 1,000 in Majdanpek.
The Industrial Union of Bor says that the number of surplus workers mentioned is between 1,200 and 2,500.
– Minister of Economy Goran Knezevic has promised us that the Chinese will change the entirety of the company’s management – says Mladen Ursulovic of the Industrial Union.
Milorad Panovic of the Independence union says that the final results of RTB Bor’s 2016 operations are expected to be disclosed these days and that they should be positive given the debt write-off by the state.
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