The State Committee on Ownership Issues has for the fifth time announced an investment competition to sell 99.22% of Dashkesan Mining and Processing Works (Dashkesan Filizsaflashdirma).
The committee intends to sell 527.447 thousand shares with the nominal price of 2 manats per share. The total cost of the 5-year investment program, which the competition participants have to prepare, must be at least $600 million.
The enterprise was founded in 1954. It employs 318 people. The company confirmed reserves total 270 million tons. Iron content in ore is 35-45%. Lately the output has been around 30 thousand tons per month. But with investments it could be brought up to 150 thousand tons. (Ukrainian metal)