EnglishThe state intends to sell the mines of "Cupru Min" by the end of this year, Claudiu Stafie, secretary of state in the Ministry of the Economy, Trade and Business Environment (MECMA), present at a conference on mining related issues, organized by "Focus Energetic".
He said that the auction procedure would be launched very soon: "At < Cupru Min > we will begin very soon. We have already received over ten letters of intent. We will make the selection announcement by the end of September. There will be two months for submitting the offers and the selection process itself. At any rate, our goal is to sell < Cupru Min > by the end of the year".
Since 2008, there have been two attempts to privatize "Cupru Min" Abrud, which is fully owned by the Ministry of the Economy, but they were both unsuccessful.
Last year, the company had a profit of 18.8 million lei, but also owed 71.55 million lei, according to information from the website of the Ministry of Public Finance (MFP).
The main line of business of SC "Cupru Min" SA Abrud is the exploitation and processing of copper ore reserves in the Roşia Poieni mining perimeter. Secondary activities concern the manufacturing and sale of quarry aggregate, drilling and clearing rocks using explosive materials, and technical assistance on mining operations.
Claudiu Stafie said that the privatization of "Oltchim", which was supposed to be completed this year, will be extended a few months into 2012.
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