OREANDA-NEWS. July 26, 2012. Acron has decided not to participate in the tender on disposal of 1,666,213 federally owned registered common Apatit shares, which constitute 20 per cent of its authorised capital. For this reason, the company withdrew its request to the Russian Federal Antimonopoly Service for a preliminary approval of the share purchase transaction. Moreover, Acron called back its statement of claim to Rosimushchestvo (Federal Agency for State Property Management) requesting to find the tender rules invalid.

Acting Acron President Alexander Popov comments on this decision as follows:

“This year we will produce our own apatite concentrate at Oleniy Ruchey mine. Therefore, the stake under privatisation is not strategically interesting for us anymore. That is why we have revised our priorities and decided to focus our financial efforts on other areas, particularly on further implementation of our own raw material projects.”