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September 17, 2021

Yildirim Holding, Trafigura and Glencore file bids to buy CupruMin

Three international companies have filed preliminary bids to buy copper concentrate from Romania’s biggest copper miner, CupruMin, the economy ministry said on Monday.
The three firms are Turkish industrial group Yildirim Holding, Dutch-based trading house Trafigura – the world’s third biggest trader in raw materials – and London-listed Glencore .
The representatives of the Economy Ministry in Bucharest and the advisers selected for the privatization are caring now the verification and assessment of the documents forwarded by the three foreign companies, a press release informs
In July, CupruMin said it aimed to sell up to 331,890 tonnes of copper concentrate in a seven-year contract at a starting price of USD 6,900 per tonne. Romania backed out of a deal last year to sell CupruMin, which needs investment and upgrades, to Canada’s Roman Copper Corp. It has estimated reserves of 900,000 metric tonnes of copper, or about 60 percent of Romania’s estimated total.
Copper rose 2 percent on Monday as strong manufacturing data from top metals consumer China boosted optimism about metals demand prospects.
Monday was the deadline for the companies to file bids for the purchase of Cuprumin.

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