“This year we’re investing in environmental projects and lowering production costs to cut back on losses. Investments planned for this year amount to RON21.7 million and we are also looking to attracts EU funding on three projects totaling nearly EUR27,” said company general manager Nicolae Turdean.
Last year, Cupru Min’s investments totaled RON12.7 million.
“We want to build a neutralizing station for acid waters and copper recovery, a project of EUR18 million, of which we hope to get EUR15 million from the EU. Another investment entails the development of a new flotation cell line, which, when finished, will double the company’s output. This would be a EUR4.8 million investment, also using EU funding,” said Turdean.
Cupru Min has a monthly output of 3,000-3,400 tons of copper concentrate and a considerable increase would allow the state company to sign direct contracts with producers in neighboring countries.
Cupru Min had a net profit of RON5.58 million and revenues of RON151.6 million last year. It is Romania’s largest copper producer and owns around 60% of the country’s estimated copper reserves.