The company had a net profit of RON5.58 million and revenues of RON151.6 million last year.
Cupru Min plans to invest RON21 million this year and estimates overdue receivables will stand at RON41.5 million by the end of the year.
Cupru Min is Romania’s largest copper producer and owns around 60% of the country’s estimated copper reserves.
The government has been trying to privatize the company for several years, but with no results. In 2012, Canadian-based Roman Copper Corp. won an auction to purchase Cupru Min, but the government cancelled the auction, citing contractual disagreements.
In 2013, authorities changed tactic and tried to sell over 331,000 tons of copper concentrate mined by Cupru Min, but the auction fell through, as the two qualified investors did not submit binding bids.