Bidders selected for privatisation of Polish sulphur miner Siarkopol

12 March 2012 16:10  [Source: ICIS news]

LONDON (ICIS)--Poland’s treasury ministry has selected four bidders for further negotiations on the privatisation of its 85% stake in sulphur mining company Zaklady Chemiczne Siarkopol, the ministry said on Monday.

The ministry chose to have further talks with Poland’s largest chemical group Zaklady Azoty Tarnow (ZAT), which in late February said it wanted to buy Siarkopol to safeguard its supplies of liquid sulphur, it said.

It added that it also selected Jersey-based Core Minerals Private Limited, a subsidiary of Indian oil, mining, chemicals, shipping and building materials group Archean, Poland’s Kamienna Gora Granite Mine and Dolomite Mine companies for further talks.

The four bidders were selected from seven applicants, the treasury ministry said.

ZAT is a fertilizer producer that buys Siarkopol’s entire annual output of approximately 300,000 tonnes/year of liquid sulphur.

Unions at Siarkopol have registered their objection to the privatisation with the ministry, arguing that the company should be treated as a strategic national asset that should be kept under state control.

Based in Grzybow, southeastern Poland, the company is notable for the Osiek sulphur mine, the only mine in the world where sulphur is extracted using the underground melting method.

Siarkopol also produces mineral fertilizer and crop protection chemicals.

By: Will Conroy
+44 20 8652 3214

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