Biggest gold site in Europe up for sale – Initial price for Lece mine near Medvedja EUR 34.5 million

The Bankruptcy Supervision Agency has advertised the sale of Koncern Farmakom MB – rudnik Lece Medvedja. The estimated value of the legal entity is slightly over RSD 8 billion (around EUR 69 million), and the initial price at the public bidding is 50% of the estimated value, that is, around EUR 34.5 million.

The bidding increment is RSD 500 million.

The property of the bankruptcy debtor consists of, among other things, buildings, land and modern equipment for the production and processing of ore.

The predominant activity of Koncern Farmakom MB – rudnik Lece in bankruptcy is the exploitation of the ores of other ferrous, non-ferrous, precious and other metals.

This company has been in bankruptcy since 2017. Koncern Farmakom bought the mine in 2008. The owner and director of Farmakom MB from Sabac, Miroslav Bogicevic, said in 2010 that the chemical analyses of the lead concentrate from the Lece mine had shown that it was, in fact, the biggest gold mine in Europe.

Applications for taking part in the public bidding may be submitted by August 26, and more details (in Serbian) can be found HERE.

The president of Serbia, Aleksandar Vucic, said in 2019 that Zijin was considering the acquisition of the Lece mine near Medvedja.

I. Z.

Agencija za licenciranje stečajnih upravnika Beograd

Serbia Zijin Copper doo Bor

Predsedništvo Republike Srbije

Rudnik Lece doo Šabac u stečaju

Bankruptcy Supervision Agency

Koncern Farmakom MB rudnik Lece

Zijin

president of Serbia

Aleksandar Vučić

sale of Lece mine

gold mine

Rudnik Lece Medveđa