First geological explorations of copper ore at Bor were conducted in the year 1897 and covered the area called Tilva Rosh. The explorations were performed by Djordje Vajfert who later provided investments of the French capital and set up a company called “The French Society of the Bor Mines, the Concession St. George”. The Company, with its headquartes in Paris, started operations on June 01, 1904.
The French capital remained at Bor all until the Second World war and by 1951 all copper mines at Bor were in the state ownership. Large amount of funds were invested in this period.
From 1951 until 1988 the Company changed its organizational structure, from the “organization of associated labour” to the “Business Unit Copper Mines Bor”.
During 1993 the Company made various investments which further initiated opening up new mining operations such was an open pit mine called “Cerovo”.
In order to comply with legislation then in force, the Company changed its organizational structure and continued to operate through a network of a few companies established as limited liability companies which actually make the company RTB Bor Group, in an informal way.