The bids of the three investors who submitted the tender books for the acquisition of the mines of SC "Moldomin" SA Moldova Nouă were not opened yesterday, since some of the members of the commission were missing, said Răzvan Zăvăleanu, managing partner at "RTZ & Partners", the receiver of "Moldomin": "The procedure stipulates that by July 24th at the latest, we need to open the bids. We are hoping that will happen earlier. At any rate, we want all the members of the commission to be present for the procedure, to ensure that the entire process is transparent". According to him, the tenders should be open by Thursday, July 21st at the latest, in order to "provide more time for bidders, in case this will prove necessary ". Mr. Zeveleanu said that the negotiation procedure will begin on July 27th. The winner will also negotiate and sign the concession contract with the National Mineral Resources Agency (ANRM)".

The mines of "Moldomin" will be sold together with the exploitation licenses, with copper reserves estimated to be worth about 1 billion Euros. The company has over 50 million Euros in debts, in particularly towards the state. The ANAF, its main creditor, recently launched the bankruptcy procedure, and will oversee the negotiations with the investors.

In order to be profitable, the copper mines will need investments of about 150 million Euros. The exploitation licenses of "Moldomin" are still valid for another 11-12 years.

Emilia Olescu (Translated by Cosmin Ghidoveanu)

The bids of the three investors who submitted the tender books for the acquisition of the mines of SC "Moldomin" SA Moldova Nouă were not opened yesterday, since some of the members of the commission were missing, said Răzvan Zăvăleanu, managing partner at "RTZ & Partners", the receiver of "Moldomin": "The procedure stipulates that by July 24th at the latest, we need