The Agency for Bankruptcy Administrators has announced the sale of the Farmakom MB Group, which includes the Lece Mine located near Medvedja. The estimated value of the entity is slightly more than 8 billion dinars (around €69 million), with the starting price for the public auction set at 50% of this valuation, approximately €34.5 million.
Bids must increase in increments of 500 million dinars.
The bankrupt entity’s assets include buildings, land, and modern mining and processing equipment. The primary activity of the Farmakom MB Šabac Group – Lece Mine involves the extraction of various metals.
The mine has been in bankruptcy since 2017, following its acquisition by the Farmakom Group in 2008. Miroslav Bogićević, the owner and director of Farmakom MB, revealed in 2010 that chemical tests of lead concentrate from the Lece Mine indicated it might be the largest gold mine in Europe.
Applications for participation in the auction will be accepted until August 26. Detailed information about the auction can be found HERE.
In 2019, Serbian President Aleksandar Vučić mentioned that the Chinese company Zijin was considering the acquisition of the Lece Mine.
