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Government Extends Bidding Deadline For Cupru Min Takeover

Romanian authorities extended by three months the deadline by which companies can file bids to buy mining company Cupru Min, Economy Ministry official Claudiu Stafie said Friday.

Andrei Cîrchelan · 16 decembrie 2011 · 1 min de citit

The ministry intended to sell the entire stake in Cupru Min through an auction this year, at a starting price of 263.28 million lei (EUR60.6 million). However, the bidding deadline was later extended until January 18, 2012.

According to Stafie, secretary of state within the ministry, the deadline was extended at the request of a company interested in prospecting Cupru Min’s copper reserves.

Cupru Min has a share capital of RON24.18 million and it is entirely owned by the Economy Ministry. The Rosia Poieni mine includes 60% of Romania’s copper reserves.

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