arski basen bor type government owned corporation industry copper mining and smelting founded bor serbia 10 december 1999 1999 12 10 first founded 1904 headquarters bor serbia area served worldwide key people blagoje spaskovski general director products copper wires copper bars revenue 253.20 million 2013 1 net income 0.79 million 2013 1 total assets 703.36 million 2013 1 total equity 0 2013 1 number of employees 5 091 1 subsidiaries copper mine bor copper mine majdanpek smelter and refinery website www.rtb.rs rtb bor rudarsko topioni arski basen bor is a copper mining and smelting complex located in bor serbia . contents 1 history 1.1 cuprom s failed purchase 1.2 a tec s failed purchase 2 organization 3 references 4 external links history edit lectra haul dump truck in bor . panoramic view on rtb bor . since the mid 1990s and during the time of sanctions on the federal republic of yugoslavia production in the rtb bor dropped significantly from the very prosperous 1970s and 1980s . this has been due to both diminishing reserves and the inability to obtain new equipment that would most efficiently gather the remaining ore no longer of high grade . copper mining is the key basis of bor s economy and the effects of decreased production could be seen all over the town . cuprom s failed purchase edit the serbian government has decided to place a tender on the privatization of rtb bor to allow for better development and investment for the company in the recent years . after the first tender on march 6 2007 rtb bor was sold to the romanian cuprom for the bidding price of us 400 million . 2 cuprom has pledged to modernize the production facilities in rtb bor and majdanpek mines in order to improve the productivity levels . this was seen as the breakthrough deal that the town of bor needed in order to speed up its much needed economic reforms . 3 however due to cuprom s failure to meet a deadline regarding the financing the serbian government had cut the deal and the complex was put up for privatization once again . a tec s failed purchase edit a second tender was called soon after the highest bidders being the austrian a tec for 466 million plus 180.4 million in investment to follow in the next two years and the second ranked bidder russian smr offered 370 million plus 413 million in investment . a tec was awarded the contract for the highest bid which received some criticism from some stressing that smr made a better offer with its larger investment pledge . on february 7 2008 the austrian consortium a tec officially acquired the eastern serbia based copper mining and smelting complex . the buyer was also obliged not to lay off any of the company s 4 691 employees which is seen as a major breakthrough in the revitalization of the bor s economy . 4 after the signing of the contract was made the first 150 million was delivered by a tec . 5 however the problems arose after a tec missed its deadline for the second payment at 230 million . the serbian minister of economy mla an dinki moved to have the contract canceled stressing that a tec did not honor their contract . a tec made several attempts to rectify the problem by increasing their offer slightly for an extended deadline . the company announced it was having trouble securing bank guarantees due to the global recession . it announced that it had secured the next payment with the help of the austrian government . 6 a tec was not permitted to see the 150 million it had already paid fore returned . the serbian government at that time had however voted to scrap the contract and offer russian smr the second ranked bidder a chance to purchase rtb bor . 7 smr was contacted by the privatization agency and entered negotiations about the previous offer made . over all interest was lost by smr as they decided not to change their first offer and stated they would not do so in the future . as such the second tender had officially failed . 8 organization edit rtb bor group is composed of the following subsidies rbb copper mine bor rbm copper mine majdanpek tir smelter and refinery references edit a b c d e 2013 . . agencija za privredne registre srbije in serbian . retrieved 17 june 2014 . cuprom romania wins us 400 million 303 million bid for serbian copper complex international herald tribune 1 archived 8 march 2007 at the wayback machine . news business & economy austrian a tec buys rtb bor . b92 . retrieved 2013 03 26 . upla eno 150 miliona dolara za rtb bor . balkanmagazin.net . retrieved 22 august 2013 . a tec industries announces breakdown of talks on rtb bor acquisition pdf . a tecindustries.com . retrieved 22 august 2013 . govt . votes unanimously to scrap a tec contract . b92.net . fonet beta . retrieved 22 august 2013 . bazel has refused to purchase copper combine in serbia forex & finance external links edit official website retrieved from https en.wikipedia.org w index.php title rtb bor & oldid 741697053 categories copper mining companiesmining in serbiasmeltinggovernment owned companies of serbiacompanies based in bornon renewable resource companies established in 19041904 establishments in serbiahidden categories cs1 uses serbian language script sr cs1 serbian language sources sr articles with wayback machine linksuse dmy dates from august 2013 navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages fran ais edit links this page was last modified on 29 september 2016 at 03 29 . text is available under the creative commons attribution sharealike license ; additional 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