Romania To Sell Copper Mining Company On Bourse In 2H

04.26.2011 By Andrei Circhelan

The Romanian government intends to sell copper mining company Cupru Min Abrud on the Bucharest bourse in the second half of this year, according to an official reform plan obtained by MEDIAFAX.

The Romanian government intends to sell copper mining company Cupru Min Abrud on the Bucharest bourse in the second half of this year, according to an official reform plan obtained by MEDIAFAX.

Cupru Min is one of the companies for which the International Monetary Fund requested privatization. It has a share capital of 24.18 million lei (EUR6 million), and it is entirely owned by the Economy Ministry. Its Rosia Poieni mine contains some 60% of Romania's copper reserves.

Romania's privatization authority AVAS twice tried in 2008 to privatize the company, but both attempts failed.