CupruMin

CupruMin is a company based in Abrud, Alba County, Romania specialised in the production of copper and copper ore. The company owns and operates the Roşia Poieni copper mine which represents the largest copper reserve in Romania and the second largest in Europe. CupruMin produces around 1.33 million tonnes of copper ore grading 0.36% copper per year from which 4,800 tonnes of copper metal is extracted.[2] As of March 2010, Cuprumin had 420 employees and produced 400 tons of copper ore per month.[3][4]

CupruMin
TypeState owned
IndustryCopper
Founded2000
HeadquartersAbrud, Romania
Key people
Nicolae Pavel, CEO
ProductsCopper
Revenue US$35 million (2010)
Number of employees
500 (2014)[1]
Websitewww.cuprumin.ro

The company's attempt of May 28, 2008 to privatize was halted as the plan did not comply with State aid rules.[5] The second try of privatization was conducted in November 2008 at a starting price of 27 million euro.[5] In December 2008, the privatization attempt was canceled due to the unfavorable economic situation.[6]

In November 2009, after more than one year of inactivity, work was restarted.[3][4]

The Roşia Poieni copper mine deposit is estimated at 900,000 tons (60 percent of the copper Romania reserve), which allows to continue the exploitation for at least 20 years.[7]

In March 2012, Roman Copper Corp. Canada won the tender for the full takeover of Copper Min capital, owned by the Ministry of Economy.[8]

References
  1. "O campanie mienieră va fi scoasă la vânzare în curând!", Evenimentul Zilei, July 24, 2014, retrieved March 28, 2020
  2. "S.C. Cuprumin S.A. produce 400 de tone de cupru pe lună şi funcţionează pe profit" (in Romanian). Ziarul Unirea. November 2009. Archived from the original on 19 July 2011. Retrieved 11 January 2011.
  3. S.C. Cuprumin S.A. produce 400 de tone de cupru pe lună și funcționează pe profit, ziarulunirea.ro (in Romanian)
  4. Cuprumin produce 400 de tone de cupru pe lună și funcționează pe profit, May, 3 2010, adevarul.ro (in Romanian)
  5. AVAS vrea să "extragă" 27 milioane de euro din CUPRU MIN Abrud, November, 11 2008, curierulnational.ro (in Romanian)
  6. Oferta de privatizare a Cupru Min, revocată din cauza situației economice nefavorabile, December, 22 2008, wall-stret.ro (in Romanian)
  7. Exploatarea minieră Cupru Min Abrud scoasă la licitație pentru 60 de milioane de euro, October, 26 2011, Dorin Țimonea, Adevărul (in Romanian)
  8. Wall-Street.ro "Canadienii de la Roman Copper câștigă licitația pentru Cupru Min"(in Romanian)
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