Chiatura Management Company (CMC) has officially announced that it will not resume underground mining operations in Chiatura, citing financial challenges and expert findings.

During a meeting with local enterprises, CMC representatives discussed the impact of the Shukruti mine paralysis, which halted 70% of ore extraction. The company stated that despite paying nearly GEL 83 million in wages during the shutdown, the financial crisis deepened due to bank loans used to cover salaries.

“At the meeting, enterprise representatives were also presented with the findings of the German consulting firm DMT, which confirmed that ore mining in Chiatura is financially unviable due to multiple factors.

As a reminder, Chiatura Management Company (CMC) took over the management of the Chiatura enterprises a year ago, aiming to implement new technologies and reduce mining costs. However, due to various challenges, the company failed to achieve its objectives and announced on March 7 that it would not resume underground operations,” the company stated.