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Monday 23 July 2012

BHP Billiton Pulled Out of the Race in Kalon Koni Mansur


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(Business New Europe) – BHP Billiton, one of just two companies left in the running to develop Tajikistan’s largest silver deposit, pulled out of the race in July. Only one bidder, a consortium led by Kazakhstan’s Kazzinc that includes Kazzinc’s parent company Glencore International, as well as Big Koni Mansur (کلان کان منصور) and Adrasman, now remains in contention to develop the deposit – a project that is expected to cost around $3bn.

A decision on the tender was due to be made in September, but after BHP’s withdrawal it might be brought forward. A source close to the process tells bne that a bid from the Kazzinc/Glencore consortium would still be considered by the Tajik government provided it complies with all tender requirements. “However, much also depends on whether the government sets the minimum bid price at a reasonable level. If they go excessively high, then the consortium will not be able to submit a bid,” the source says.

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