Joint Stock Company: Madneuli is a part of the GeoProMining group which is international privately owned diversified metals resource holding company. It was found in 1999 as Stanton Equities Corp and renamed as GeoProMining Group in 2007. JSC Madneuli is the leading mining company in Georgia contributing more than 10% of Georgian exports. Established in 1975 in Bolnisi region, Georgia and privatized in 2005, it is one of the largest tax payers in the country. Company s rich history of mining has distinguished JSC Madneuli as a respected precious metals producer in Georgia and in post soviet regions. Despite 2008 financial crisis, company was able to maintain its employees and currently it employees more than 1500 people in its operations.
Company s primary focus is on copper. Over 65% of the Company Revenues come from sales of copper. JSC Madneuli specializes in open pit mining and is a holder of major licenses for mining.
Company focuses on operating efficiently and effectively, assessing and managing risk, controlling costs and developing its human resources. Company plans to increase its reserves by moving ahead with existing development projects, increasing exploration activities, investing heavily in modernization of equipment. Company is committed to continually improve its performance as a responsible corporate citizen while creating value for its shareholders.
A major priority for JSC Madneuli is environmental protection. Company has spent several million dollars for modernization of equipment, for new technologies that will make company more environmentally clean and a safe. Systematic monitoring is conducted on weekly and monthly bases to make sure standards of environmental protection are kept up to standards.
Another priority for the company is implementation of social projects. For the past few years, company has participated in more than 100 charitable events and activities and has contributed more than 3million lari. Long term prospects for base metal producers appear to be very attractive. As population and industries grow, so does the demand for copper. The pace of industrialization in China and other countries, like India, Brazil and Russia, is expected to keep global demand for copper and other base metals high for the next decade.
