Rudarski radovi br 4 2011 - Institut za rudarstvo i metalurgiju Bor

MINING AND METALLURGY INSTITUTE BOR YU ISSN: 1451-0162<br />
COMMITTEE OF UNDERGROUND EXPLOITATION OF THE MINERAL DEPOSITS UDK: 622<br />
UDK: 338.1:316.4:622(045)=20<br />
Radmilo Nikolic * , Nenad Vusovic * , Igor Svrkota * , Aleksandra Fedajev *<br />
BUSINESS ECONOMY OF RTB BOR IN TRANSITION PERIOD **<br />
Abstract<br />
RTB Bor is our known company for production of copper and precious metals. With a large<br />
number of employees, organized on a principle of production complex, it was a reputable business<br />
entity in the former Yugoslavia with a profitable business, especially in the area of export. At the<br />
same time, RTB was a backbone of economic development in the Timok region and beyond.<br />
In 90’s, the company fell into deep crisis due to a disintegration of the former Yugoslavia, civil<br />
wars in the neighborhood and tough economic sanctions by UN. It led to a drop of production,<br />
difficult export, reduced number of employees as well as their living standards. Investments were<br />
stopped and business losses became bigger and bigger.<br />
In order to improve the business efficiency, the company took several steps in its restructuring.<br />
Some down-stream factories were disported and only the base of copper production was kept. In<br />
the meantime, there were two attempts of company privatization, but both were unsuccessful, so<br />
the company is currently state-owned.<br />
Measures for improvement the company business economy are taken in the last couple of years.<br />
Some serious investments are in progress, such as reconstruction of the Smelter Plant and construction<br />
of the Sulfuric Acid Plant, procurement of mining equipment, infrastructural works, etc. Besides this,<br />
the production and export constantly increase and the company, after a long period of time, managed<br />
to finish 2010 with positive business results due to a favorable condition of the copper market.<br />
Key words: transition, economic crisis, restructuring, business economy<br />
INTRODUCTION<br />
Mining has a long tradition in the area<br />
of Bor and Majdanpek. First tones of copper<br />
ore were mined in 1903. It is a rich ore<br />
body Coka Dulkan. Namely, the first geological<br />
exploration of this area was carried<br />
out in 1897 in the area of Tilva Ros.<br />
RTB Bor was developed strongly after<br />
the World War II. During this period, several<br />
mines were opened along with<br />
processing and smelting plants. After years<br />
of growth, company became one of the largest<br />
producers of high quality cathode copper<br />
with over 20,000 employees.<br />
A review of the current situation of internal<br />
organization is undergone. It aims to find<br />
an organization model that will be based on<br />
the market principles and provide higher efficiency<br />
and profitability of the business.<br />
* University of Belgrade, Technical Faculty Bor<br />
** This paper is the result of Project No. 33038, “Eksploitation and processing of copper ore technology<br />
development with monitoring of living and working enviroment in the RTB Bor<br />
Group”, funded by the Ministry of Education and Science of the Republic of Serbia.<br />
No 4, 2011. 139<br />
MINING ENGINEERING