Poland to privatise sulphur mining company by March 2013

22 November 2012 12:16  [Source: ICIS news]

LONDON (ICIS)--Poland aims to complete the privatisation of sulphur mining company Zaklady Chemiczne Siarkopol in the first quarter of 2013, the Polish treasury ministry said on Thursday.

The sell-off would be finalised following either exclusive talks with one bidder or parallel talks with the four existing bidders, it added.

One bidder is Poland’s largest chemical group, Zaklady Azoty Tarnow (ZAT), which has stated that it wants to buy Siarkopol to safeguard its supply line for liquid sulphur.

The three other bidders in the running for the acquisition of Siarkopol from the Polish state are Jersey-based Core Minerals Private Limited, a subsidiary of Indian oil, mining, chemicals, shipping and building materials group Archean, and Poland’s Kamienna Gora Granite Mine and Dolomite Mine companies.

ZAT currently purchases Siarkopol’s entire annual output of approximately 300,000 tonnes/year of liquid sulphur as feedstock for its fertilizer production.

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

The company also produces mineral fertilizer and crop protection chemicals.

By: Will Conroy
+44 20 8652 3214

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