Cunico Resources
Cunico Resources is a Balkan company headquartered in Amsterdam that produces ferronickel, which is primarily used to make stainless steel, at the FENI plant in Kavadarci North Macedonia and at the NewCo Ferronikeli plant in Kosovo. It was in 2013 a joint venture between Beny Steinmetz Group Resources (BSGR) and International Mineral Resources (IMR).
Cunico acquired FENI in 2005. The report concluded: “This fact confirms the influence of the air pollution with dust from the ferronickel plant in the larger region of city of Kavadarci.”
In October 2017, only one of its two furnaces was in production. Sales were primarily to the Chinese. BSGR had sold most of its shares in Cunico to its partner IMR, keeping only 8%. At that time IMR held 91% of Cunico.
In January 2020, it came to light that Cunico had sold its Kavadarci operations to Global Special Opportunities, a private equity fund, which planned to invest 100 million euros in the facility and rebrand it to Euronickel.
In February 2020, Cunico Resources "claimed that the SDSM government had interfered in the sale of its Kavadarci ferro-nickel mine, effectively resulting in the bankruptcy of the operating company."
Operations in Kosovo
The metallurgical complex near the city of Drenas Kosovo was built in 1984.
In July 2018, Cunico entered into an agreement with Albania's Balfin to sell them its Kosovar operations.
Operations in Guatemala
In October 2012, Cunico acquired the Guaxilan S.A. nickel ore mining complex in Guatemala.
Cunico acquired FENI in 2005. The report concluded: “This fact confirms the influence of the air pollution with dust from the ferronickel plant in the larger region of city of Kavadarci.”
In October 2017, only one of its two furnaces was in production. Sales were primarily to the Chinese. BSGR had sold most of its shares in Cunico to its partner IMR, keeping only 8%. At that time IMR held 91% of Cunico.
In January 2020, it came to light that Cunico had sold its Kavadarci operations to Global Special Opportunities, a private equity fund, which planned to invest 100 million euros in the facility and rebrand it to Euronickel.
In February 2020, Cunico Resources "claimed that the SDSM government had interfered in the sale of its Kavadarci ferro-nickel mine, effectively resulting in the bankruptcy of the operating company."
Operations in Kosovo
The metallurgical complex near the city of Drenas Kosovo was built in 1984.
In July 2018, Cunico entered into an agreement with Albania's Balfin to sell them its Kosovar operations.
Operations in Guatemala
In October 2012, Cunico acquired the Guaxilan S.A. nickel ore mining complex in Guatemala.
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