History
It is confirmed from various archeological studies that Bolnisi region was an ancient centre of precious metal mining, especially gold and copper.
4000 B.C. - XIX
4000 - 3000 B.C. - Madneuli deposit is a main source of metal mining in Bolnisi region.
2000 - 1000 B.C. - Ferrous metals exploration and extraction started in Bolnisi.
XVII - XIX - Intensive geological works have been performed in order to discover new deposits in the area.
1940-1975
Mid 40’s - Fundamental exploration works started in Bolnisi Region.
1956 - Approval for the plant construction for the Madneuli deposit.
1975 - Processing plant started, first copper concentrate produced.
High gold grade ore was exported to Armenia and Russia for further processing.
1990-1997
1994 - Madneuli was established as a joint stock company held by Georgian State.
1997 - Australian-Georgian joint venture LTD Quartzite was founded.
1997- 2005 – 30.6 mln tonnes of ore processed.
2005 - Present
2005- Privatization tender announced for Jsc Madneuli's 97.25% shares. Tender was won by "Stanton Equities Corporation" (GeoProMining).
2006 - Madneuli contributed 8% of Georgian Exports.
2004 - 2007 - Substantial increase in production rates and efficiencies due to production process optimization
JSC Madneuli currently is the leading mining company in Georgia, important player for Georgian economy.
