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 ( ), ( ka, ტფილისი, tr ) is the Capital city, capital and List of cities and towns in Georgia (country), largest city of Georgia ( ...

Georgia Georgia most commonly refers to: * Georgia (country), a country in the South Caucasus * Georgia (U.S. state), a state in the southeastern United States Georgia may also refer to: People and fictional characters * Georgia (name), a list of pe ...

. 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, 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 formerly known as JSC Madneuli changed its name to JSC RMG Copper. 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 that extracts rock or minerals from the earth. Open-pit mines are used when deposits of commercially useful ore or ...

Bolnisi Mine in the

Bolnisi Bolnisi ( ka, ბოლნისი) is a city in the country of Georgia (country), Georgia, located in the Kvemo Kartli region and capital of the Bolnisi district. It currently has an estimated 8,348 (January 1, 2024) inhabitants. History Boln ...

district of the

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

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. In 2021, JSC RMG Copper ranked as the 22nd biggest company in Georgia by revenue in a list by

Forbes ''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...

. It was the highest mining company on the list.

CSR

RMG Copper invested to 1 million GEL in

Corporate Social Responsibility Corporate social responsibility (CSR) or corporate social impact is a form of international private business industry self-regulation, self-regulation which aims to contribute to societal goals of a philanthropy, philanthropic, activist, or chari ...

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

*
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