JSC RMG Copper (JSCM) (Georgian: სააქციო საზოგადოება არ ემ ჯი კოპერი, saak'ts'io sazogadoeba "RMG Copper", formerly JSC Madneuli) is a mining company based in Tbilisi, Georgia. Established in 1975,[1] RMG Copper is currently involved in ore, copper, and gold mining and smelting.
In 2005, the Russian GeoProMining purchased the state-owned Madneuli. This was one of the first public privatisations in Georgia. The company was purchased by Stanton Equity, which at that time was part of the Industrial Investors Holding. In 2007 Siman Povarenkin, who at that time was a co-owner of Industrial Investors, purchased 100% of Stanton Equity and renamed it GeoProMining.
Later in 2005 GPM purchased another Georgian asset, Quartzite (today known as RMG Gold), a producer of gold.
On June 14, 2012, Rich Metals Group acquired 100% ownership of JSC RMG Copper for US$120 Million.
Under the new ownership, the company formerly known as JSC Madneuli changed its name to JSC RMG Copper.
JSC RMG Copper is the leading mining company in Georgia,[citation needed] contributing more than 10% of Georgian exports. The mine was opened in 1975 in Bolnisi region, Georgia.[2] RMG Copper has the open pit Bolnisi Mine in the Bolnisi district of the Kvemo Kartli region in southern Georgia. The mine reached full capacity in 1978.[3] Western sources estimate RMG Copper's assets in this mine to be 350,435 oz (10,908 kg) of gold.[citation needed] Silver, copper, and other minerals are also mined at that location. This asset has been worked for 30 years.
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RMG Copper invested to 1 million GEL in Corporate Social Responsibility activities in 2010. Its projects include sport and cultural events, charity, etc.[4][5] Fund Iavnana is one of the key projects[6]
Referencesedit
^. Archived from the original on 2012-02-08. Retrieved 2011-12-13.
^. Archived from the original on 2012-02-08. Retrieved 2011-12-13.
copper, jscm, georgian, სააქციო, საზოგადოება, არ, ემ, ჯი, კოპერი, saak, sazogadoeba, copper, formerly, madneuli, mining, company, based, tbilisi, georgia, established, 1975, copper, currently, involved, copper, gold, mining, smelting, company, typejoint, stock. JSC RMG Copper JSCM Georgian სააქციო საზოგადოება არ ემ ჯი კოპერი saak ts io sazogadoeba RMG Copper formerly JSC Madneuli is a mining company based in Tbilisi Georgia Established in 1975 1 RMG Copper is currently involved in ore copper and gold mining and smelting JSC RMG CopperCompany typeJoint stock companyIndustryMiningFounded1975 1975 HeadquartersTbilisi GeorgiaProductsCopperGoldRevenueUS 70 70 Million estimated maximumWebsitewww wbr richmetalsgroup wbr com Contents 1 Ownership 1 1 CSR 2 References 3 External linksOwnership editIn 2005 the Russian GeoProMining purchased the state owned Madneuli This was one of the first public privatisations in Georgia The company was purchased by Stanton Equity which at that time was part of the Industrial Investors Holding In 2007 Siman Povarenkin who at that time was a co owner of Industrial Investors purchased 100 of Stanton Equity and renamed it GeoProMining Later in 2005 GPM purchased another Georgian asset Quartzite today known as RMG Gold a producer of gold On June 14 2012 Rich Metals Group acquired 100 ownership of JSC RMG Copper for US 120 Million Under the new ownership the company formerly known as JSC Madneuli changed its name to JSC RMG Copper JSC RMG Copper is the leading mining company in Georgia citation needed contributing more than 10 of Georgian exports The mine was opened in 1975 in Bolnisi region Georgia 2 RMG Copper has the open pit Bolnisi Mine in the Bolnisi district of the Kvemo Kartli region in southern Georgia The mine reached full capacity in 1978 3 Western sources estimate RMG Copper s assets in this mine to be 350 435 oz 10 908 kg of gold citation needed Silver copper and other minerals are also mined at that location This asset has been worked for 30 years CSR edit RMG Copper invested to 1 million GEL in Corporate Social Responsibility activities in 2010 Its projects include sport and cultural events charity etc 4 5 Fund Iavnana is one of the key projects 6 References edit Madneuli მადნეული Archived from the original on 2012 02 08 Retrieved 2011 12 13 Madneuli მადნეული Archived from the original on 2012 02 08 Retrieved 2011 12 13 Mine of the Month Mining Magazine November 2011 CSR Contributions of Madneuli Archived 2012 05 25 at the Wayback Machine Financial December 2010 Madneuli Spending 1 2 Million GEL on CSR in 2011 George Devadze Interview on CSR Archived 2012 05 25 at the Wayback Machine Financial December 2010 Iavnana fund supportExternal links editOfficial website Madneuli World Investment News The Bolnisi mine is at coordinates 41 21 53 N 44 27 20 E 41 364828 N 44 455662 E 41 364828 44 455662 Bolsisi mine Retrieved from https en wikipedia org w index php title JSC RMG Copper amp oldid 1220180122, wikipedia, wiki, book, books, library,
