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Foreign investors vying over Romania's copper reserves
29.03.2011, 23:59 | Business | 1214 views
Two copper mining companies, Cuprumin Abrud and Moldomin Moldova Nouă, are put up for sale. The price of a tonne of copper has boomed over the last two years from 2,700 dollars to 10,000 dollars. The value of Romania's copper reserves is estimated at 5-10 billion euros at the current prices. The two most sought after companies at present in Romania are copper ore mining companies Cuprumin Abrud and Moldomin Moldova Nouă, whose reserves of copper are currently valued at around 10 billion euros, according to ZF calculations. The price of copper has recently reached a staggering 10,000 dollars/tonne (6,500 euros per tonne) following strong demand from China, which compares with 2,000 dollars/tonne between 1980 and 2004. Read more on ZF.ro
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