Serbia Cancels $400 Million Deal For Copper Firm

(RFE/RL) BELGRADE, April 25, 2007 -- Serbia today canceled a $400 million contract with Cuprom Romania, saying the firm had failed to submit financial guarantees for buying Serbia's biggest copper miner, RTB Bor.

Serbia's Privatization Agency said Cuprom Romania failed to meet a deadline to secure the deal.

RTB Bor was a key contributor to Serbia's industrial sector. Cuprom Romania is one of Europe's largest manufacturers of copper products.

(AFP, AP)