RSS
The government opts for the association with an investor who could finance the Cupru Min with a minimum of 40-50 million euro
The government approved recently a memorandum referring to the situation of Cupru Min and opted for association with an investor who, depending on the profile of the activity, would ensure financial resources, either offer technological infrastructure, stated the minister of economy Varujan Vosganian.
“The second formula was agreed upon, for several reasons. One of the reasons is that at this moment Cupru Min is involved in several processes, including the former winner of the privatisation bid, who did not observe his obligations ( the Canadian company) Roman Copper – from this reason we preferred the second variant, so that we are looking for an investor who could invest in Cupru Min and who could take over the finite product at a price which could agree upon” Vosganian said.He showed that the ministry of finances accepted that 50% if the operational profit stay with Cupru Min to honour the obligations for the environment which could go to two million euro. The minister refused to answer if any investor showed his interest for a collaboration with this company before “ starting the official procedures”.
Vosganian stated that investors should offer a sum of money if they are traders on the market and offer technological infrastructure if they are producers. Asked if there is a deadline for the identification of an investor, Vosganian answered that the proposed that this should happen by mid year.
The order of minimum sum the ministry of economy might expect and which could justify the efficiency of this action – cooperation with an investor – would be 40-50 million euro.