Madneuli JSC

Madneuli JSC

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Madneuli JSC

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Description:
JSC Madneuli (JSCM) (, saak'ts'io sazogadoeba "madneuli"; სს მადნეული, ss "madneuli") is a mining company based in Tbilisi, Georgia. Established in 1994, Madneuli is currently involved in ore, copper, and gold mining and smelting. The company is a daughter affiliate and subsidiary of GeoProMining Ltd (former Stanton Equities). GeoProMining Group is an international group which invests in metals and mining industry worldwide.

History

JSC Madneuli -The leading mining company in Georgia contributing more than 10% of Georgian exports.Established in 1975 in Bolnisi region, Georgia.

Company’s rich history of mining has distinguished us as a respected precious metals producer in Georgia and post soviet region. While our past is impressive, we are determined to meet the challenges and opportunities for our future holds.. It has been claimed that the company netted $60 million U.S. dollars in the year of the privatization.<!--

Financials

Financials for Madneuli are not readily available. Using Georgian export data for the year of 2005, the maximum revenues Madneuli could have generated are $34.7 million for gold and $36.4 million for copper suggesting a maximum total revenue of $70.70 million US dollars. Australian junior Bolnisi Gold, who worked the Bolnisi Mine in a joint venture with Madnueli in 2005 and had a 50% stake in the mine, reported a gross profit of $11.4 million US Dollars and positive cash...
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