Serbia Zijin Copper, a pillar of the Serbian economy, generates an income that is three times higher than before privatization, Minister Cvetković said in Bor
About two billion dinars were paid to the budget of Bor and Majdanpek this year
In October, we signed an annex to the Strategic Partnership Agreement with the management of Serbia Zijin Copper in terms of investment obligations, because the company invested more than what was agreed upon in the initial document. Last year, it achieved a record profit of 341 million dollars, with investments of as much as 795 million dollars, said the Minister of Economy Slobodan Cvetković. – The local governments, in whose territories the company operates, also benefit from the business operations of Serbia Zijin Copper, hence this year about two billion dinars were paid to the budget of the city of Bor and the municipality of Majdanpek alone, Jovica Radisavljević said.
SZK. – Thanks to the business of the Chinese-Serbian company, our country now occupies the no.2 position in Europe in terms of copper production, right behind Poland, while previously it was in sixth place. This is why, among other things, Serbia Zijin Copper is one of the pillars of the Serbian economy, said the Minister of Economy Slobodan Cvetković in a conversation with the company’s management (November 1).
– The first time I met with the management of Serbia Zijin Copper was in October, when we signed an annex to the Strategic Partnership Agreement, in terms of investment obligations. Usually, the obligations of the strategic partner are reduced by annexing the agreement, but with Serbia Zijin Copper we had a completely opposite situation. They invested more than what was agreed upon in the initial document. The company’s income is three times higher than before the privatization of RTB and last year it achieved a record profit of 341 million dollars, with investments of as much as 795 million dollars – said the Minister of Economy Slobodan Cvetković.
He also added that by investing 216 million dollars in ecology and environmental protection, Serbia Zijin Copper contributed to the community, but also showed concern for employees, as the number of workers increased by 25 percent. – Sustainable development must be the key guide because we want to leave a healthy and prosperous Serbia to future generations – Minister Cvetković said.
The Production Manager of Serbia Zijin Copper Jovica Radisavljević said that since taking ownership of the former RTB Bor, the company has made a cumulative contribution to the social community in Serbia, which ranks it among the business entities with the highest payments based on taxes and fees.
– The local governments, in whose territories the company operates, i.e. the city of Bor and the municipality of Majdanpek, also benefit from the business operations of Serbia Zijin Copper. So, for example, about two billion dinars were paid to the budget of the city of Bor and the municipality of Majdanpek alone this year – pointed out Radisavljević.
Serbia Zijin Copper employs over 6,200 workers, who on average earn about 125,000 dinars per month. Workers’ salaries far exceed the local level of per capita income and are 49 percent higher than the average in Serbia.
-After taking over management, more than 2,800 new, mostly young people got jobs in Bor and Majdanpek, which is the most significant contribution to the economic development of the two cities. In addition, a large number of newly created jobs for the local population played an important role in maintaining social stability – said the Production Manager of Serbia Zijin Copper.
Minister Cvetković pointed out that the Government of Serbia is committed to improving business conditions, facilitating administrative procedures, and creating a favorable economic environment for investors, especially for those who are the actors of extremely successful privatization.
– We want to support the development of the company and the mines because we understand how important it is to have a stable source of income and new jobs. The Ministry of Economy is a reliable partner in achieving your goals, and we are ready to solve challenges together and support initiatives that will contribute to a better future for Bor, Majdanpek, and the entire country – said Slobodan Cvetković.
During his one-day stay in Bor, the Minister of Economy visited the dispatch center of the “Veliki Krivelj” mine, and then the new automated Tank House plant within the copper smelter in Bor.