China’s Zijin Mining has finalised its acquisition of a 63% stake in Serbia’s copper miner RTB Bor.
The Chinese investor paid US$350 million to purchase a majority stake in the business, and it will spend a further US$200 million to pay RTB Bor’s debts, Serbia’s government said in a statement. The Chinese group has pledged to invest a total of $1.26 billion in the next six years to increase RTB Bor's production and raise the efficiency of its production processes.
Zijin Mining is involved in the exploration and mining of copper, zinc, gold and other mineral resources. The group is listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange, according to data from Zijin Mining.