The Appellate Court in Stip approved putting the entire assets of the Zletovo and Toranica mines to auction. Estimated value for the two lead and zinc mines is at EUR 7 million. The auction will be open to domestic and foreign companies that have concession to extract lead and zinc ore in Macedonia.
Bulgarian company Minstroy, which has expressed interest in obtaining the mines which were abandoned by their previous owner Indigo Minerals, has obtained a concession and is expected to take part in the auction.
The mines in Probistip and Kriva Palanka have been closed for months and search was on for a new owner that would operate under the currently deflated commodity prices.
Minstroy announced it is prepared to take the mines over sooner, but was delayed by court procedures.
Zletovo union informed that 25 workers have already been called back to work, to help prepare the mine to restart production, as the anticipated sale approaches.