Georgia Launches Privatization of Gold Mining Companies

The Ministry of Economic Development announced on April 29 it launches accepting of privatization bids for Madneuli gold mining company in southern Georgia and 50% of shares of Quartzite LTD, which is processing secondary quartzite containing concentrations of gold.

Deadline for submitting privatization bids expires on May 31, 2005.
 
According to the Economy Ministry, the initial price of these companies will be defined in accordance to submitted privatization bids.

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