JSC RMG Copper (JSCM) ( ka, სააქციო საზოგადოება არ ემ ჯი კოპერი, saak'ts'io sazogadoeba "RMG Copper", formerly JSC Madneuli) is a mining company based in

Tbilisi Tbilisi ( ; ka, თბილისი ), in some languages still known by its pre-1936 name Tiflis ( ), is the Capital city, capital and the List of cities and towns in Georgia (country), largest city of Georgia (country), Georgia, lying on the ...

Georgia Georgia most commonly refers to: * Georgia (country), a country in the Caucasus region of Eurasia * Georgia (U.S. state), a state in the Southeast United States Georgia may also refer to: Places Historical states and entities * Related to the ...

. Established in 1975, RMG Copper is currently involved in ore, copper, and gold mining and smelting.

Ownership

In 2005, the Russian GeoProMining purchased the state-owned Madneuli. This was one of the first public privatisations in

. The company was purchased by Stanton Equity, which at that time was part of the Industrial Investors Holding. In 2007

Siman Povarenkin Siman Povarenkin is an Armenian entrepreneur with investments in metals & mining, geophysics and medical and health technology in Asia, Europe and Latin America. Povarenkin graduated from the Omsk State University with a degree in Chemistry and ...

, 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 previously known as JSC Madneuli changed its name to JSC RMG Copper. JSC RMG Copper is the leading mining company in Georgia, contributing more than 10% of Georgian exports. The mine was opened in 1975 in Bolnisi region, Georgia. RMG Copper has the

open pit Open-pit mining, also known as open-cast or open-cut mining and in larger contexts mega-mining, is a surface mining technique of extracting rock or minerals from the earth from an open-air pit, sometimes known as a borrow. This form of mining ...

Bolnisi Mine in the

Bolnisi Bolnisi ( ka, ბოლნისი, az, Qəmərli), is a city in the country of Georgia, located in the Kvemo Kartli region and capital of the Bolnisi district. It currently has an estimated 13,800 inhabitants. History Bolnisi was settled ...

district of the

Kvemo Kartli Kvemo Kartli ( ka, ქვემო ქართლი, az, Aşağı Kartli) or "Lower Kartli", is a historic province and current administrative region (mkhare) in southeastern Georgia. The city of Rustavi is the regional capital. Location Kvem ...

region in southern Georgia. The mine reached full capacity in 1978.Mine of the Month
Mining Magazine, November 2011 Western sources estimate RMG Copper's assets in this mine to be 350,435 oz (10,908 kg) of gold. Silver, copper, and other minerals are also mined at that location. This asset has been worked for 30 years.

CSR

RMG Copper invested to 1 million GEL in

Corporate Social Responsibility Corporate social responsibility (CSR) is a form of international private business self-regulation which aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in or supporting volunteering or ethicall ...

activities in 2010. Its projects include sport and cultural events, charity, etc.CSR Contributions of Madneuli
Financial, December 2010Madneuli Spending 1.2 Million GEL on CSR in 2011: George Devadze Interview on CSR
Financial, December 2010 Fund Iavnana is one of the key projectsIavnana fund support
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References

External links

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Madneuli
World Investment News. * The Bolnisi mine is at coordinates {{coord, 41.364828, 44.455662, type:landmark, name=Bolsisi mine Gold mining companies Copper mining companies of Georgia (country) Companies based in Tbilisi Non-renewable resource companies established in 1994 1994 establishments in Georgia (country) Mining companies of the Soviet Union