Romania: Cupru Min posts the highest annual output ever

For Romanian-state company Cupru Min, 2016 was a year of positive records, amid an unfavorable economic context.

Abrud-based company that operates the Rosia Poieni deposit, where are 60 percent of Romania’s copper reserves, recorded last year the largest annual copper production in its history.

“7,800 tons – the largest annual production of copper ever; 9,000 tons – the largest amount of copper concentrate delivered in one month; USD 4,200 / t – starting with this price of copper, the company became profitable; EUR 600,000 – savings achieved in the second half of the year, for the last two contracts signed with suppliers of equipment, following the application of new procurement strategies,” the company announced on its Facebook account.

Moreover, the net income of employees increased for the first time in recent years, from RON 3,057 in 2013 to RON 3,689 currently. All company’s debts were paid and, at the same time, the major purchases of modernization and development program for quarry and processing plant began.

Cupru Min, subordinated to the Ministry of Economy, has about 540 employees. The company exploits copper ore from the Rosia Poieni deposit, being the largest producer of copper concentrate.

In 2014, Cupru Min Abrud was proposed to be listed on stock exchange, but the sale of copper concentrate failed in lack of any biding bids from the two companies which have showed their interest in the negotiation phase.

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