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Remin to resume tender of 500,000 tonnes of gold concentrate
Remin Baia Mare National Mining Corporation will resume a tender to trade gold concentrate with a high content of arsenic following a first tender where none of the bidders won. Remin Director Ovidiu Galca told Agerpres on Tuesday that the tender of the gold concentrate will resume under the same conditions as the first tender.
'The resumption of the tender for the 500,000 tonnes of gold concentrate with a high content of arsenic is scheduled for December 3, at the headquarters of the company, under the same conditions as mentioned in the technical requirements of the first tender. The starting price for one tonne of dry mineral is 105 US dollars, VAT excluded. The purchase of the entire quantity would entail more than 53 million US dollars. Bidding at the first tender were seven business operators from Romania, Switzerland, China and the UK. If the gold concentrate is not sold, the tender will then resume after two weeks,' said Galca.
Remin, currently undergoing insolvency procedures, hope to stage an advantageous sell.According to the technical requirements of the tender, potential buyers have to pay in advance 10 percent of the value of the gold concentrate in the form of a bank guarantee.
For the completion of the contract, a good performance guarantee will also be set aside of 2.8 million US dollars that will be available until the completion of the contract. Upon signing the purchase agreement, the buyer will pledge to pay in advance 8.8 million US dollars for the quantities due in the first half-year.
Remin will be selling 506,540 tonnes of gold concentrate with a high content of arsenic of which 6 tonnes of gold and 25 tonnes of silver could be extracted.