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Gobierno de España - Ministerio de Hacienda y Función Pública

Privatization file:ALMAGRERA

Image of ALMAGRERA
ALMAGRERA

ACTIVITY

Almagrera, acquired in 1996 by Navan Resources Plc, is active in the underground mining of polimetalic sulfurs, so that through its own process of flotation, it can produce copper, plumb an zinc concentrates and as additional products sulfuric acid and copper sulfate.
State-owned equity remaining
% stake sold State-owned equity remaining
99.98% 0%
Deals
Type of deal Buyers Date SEPI CCP's report Government approval
Private sale (bid) Navan Resources 11/10/1996 Dic. 1996 17/01/1997

ACTION ON ALMAGRERA

SEPI awarded its 99.98 per cent in Almagrera's capital to Navan Resources in 1996, on the base of an industrial plan which contemplated the full exploitation of the Aguas Teñidas pit in 2000-2001, and thanks to it, the company's profitability.

The industrial plan proposed the making of important investments in mining infrastructures (Sotiel and Aguas Teñidas) which would make possible the reduction of the operative costs and would guarantee the maintenance of the jobs.

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