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World Bank approves $30 million loan for RTB Bor
Bor,
13 September 2005
The World Bank approved a $30 million loan for the mining and metallurgical complex RTB Bor for the realisation of numerous projects, first of all, in the field of ecology.
According to Vesna Kostic, World Bank Belgrade office spokeswoman, $15 million will be used for the recovery of barren land of the Bor copper mine and in Velik Krivelj, as well as for the protection of the Kriveljska river wastewater collector and the rebuilding of an industrial basin circle.
Kostic added that $10 million of the loan is for redundancy payments for the 2,500 surplus employees of the copper mine, $1 million for the labour market in Bor, and $2 million for stimulating the development of entrepreneurship. She also said that the only condition for receiving the loan was for RTB Bor to do business according to strict economic principles.
Director of RTB Bor Borivoje Stojadinovic said that a general overhaul of plants is under way and is planned to be completed by September 20. He also said that this investment, worth about €5 million, will increase its monthly production by 50 percent.
Stojadinovic said that the concession holders of the three copper, gold and scarce metal mines on Crni vrh near Bor, will be known in a few days.
Kostic added that $10 million of the loan is for redundancy payments for the 2,500 surplus employees of the copper mine, $1 million for the labour market in Bor, and $2 million for stimulating the development of entrepreneurship. She also said that the only condition for receiving the loan was for RTB Bor to do business according to strict economic principles.
Director of RTB Bor Borivoje Stojadinovic said that a general overhaul of plants is under way and is planned to be completed by September 20. He also said that this investment, worth about €5 million, will increase its monthly production by 50 percent.
Stojadinovic said that the concession holders of the three copper, gold and scarce metal mines on Crni vrh near Bor, will be known in a few days.
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