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27 January 2018

Meeting with representatives of “Zijin”

President of the National Council for Coordination of Cooperation with the Russian Federation and the People’s Republic of China Tomislav Nikolić and a Serbian Government delegation continued their talks with “Zijin” company representatives following the tour of the company.

Meeting with representatives of “Zijin”

The Office of the National Council for Coordination of Cooperation with the Russian Federation and the People’s Republic of China

Council President Nikolić highlighted that the National Council had been particularly tasked with implementing the “One Belt One Road” strategy in Serbia. China is the first major power to spread its popularity through the economy only. Owing to its “16 + 1” cooperation mechanism, China has galvanized Europe into action, too. “You have your work cut out for you, having in mind your mining activities in nine countries located on different continents: their legal and economic systems differ, and it is necessary to meet diverse business conditions, especially in terms of the workers’ protection. The Serbian delegation has had the opportunity to see at first hand that your company is capable enough and that it has the know-how to operate in every country in line with the prescribed rules and requirements. Unlike in the past when privatizations fell short of successful implementation, this Government insists that each privatization should increase and modernize production, and bring fresh capital – this is the type of privatization that Serbia needs. Serbia and China were friends at a time when they had no economic cooperation, and it is most natural that such true friends should cherish economic cooperation today. I would like us to collaborate and I would like the Mining and Smelting Combine “Bor” to become another “Zijin” mine abroad. You will decide whether this privatization is beneficial to you or not, but you can regard Serbia as a true friend. These days, we are talking about the successful privatization of the Smederevo Steel Mill, but I have to say that MSC “Bor” is perhaps ten times more valuable to Serbia. I am drawing your attention to this in order for you to understand how important it is for Serbia that MSC “Bor” should start working in full capacity”, Mr. Nikolić underlined.

“Serbia and China have good cooperation owing to the two countries’ leaders. “Zijin” supports the “One Belt One Road” initiative and is greatly interested in MSC “Bor”. We find it very important to expand our production capacities, for that will reduce expenditure, and in order for the production to expand we must make large-scale investments in machinery and manufacturing to build three plants similar to the ones you have had the opportunity to see at our company, for it is only by vehicle of capacity increase that MSC “Bor” can be competitive in the market. We clearly realize that this project abounds in challenges, but our company has the edge over others in terms of technological innovations. We deem it vital that MSC “Bor” privatization should be carried out in compliance with the laws of the Republic of Serbia”, the company’s Executive Director Chen Jinghe said.