commiss decis state aid implement spain mina de rio tinto sa notifi document number spanish text authent text eea relev ec commiss european commun regard treati establish european commun subparagraph articl thereof regard agreement european econom area articl thereof call interest parti submit comment pursuant provis cite regard comment procedur letter date august spanish author notifi commiss intent grant rescu aid form state guarante mina de rio tinto sal mrt respect loan made bank compani worth eur letter date februari commiss inform spain decis aid compat common market letter date octob spain submit restructur plan mrt period date august includ continu guarante mention recit loan instituto de crédito ofici ico amount eur letter date decemb commiss request spain pursuant commun guidelin state aid rescu restructur firm difficulti rescu restructur guidelin notifi aid includ plan letter date januari regist dai spanish author notifi aid spain plan implement favour mrt restructur purpos letter date februari commiss request addit inform letter date februari spanish author inform commiss abovement state guarante approv commiss recit forc decemb letter date april regist april spanish author provid addit inform repli commiss request date februari letter date june commiss inform spain decid initi procedur laid articl ec treati respect aid commiss decis initi procedur publish offici journal european commun commiss invit interest parti submit comment aid commiss receiv comment interest parti forward spain opportun react comment receiv letter date juli march juli march ii fact compani mina de rio tinto sal found worker rio tinto minera atlant copper sa aim take rio tinto minera mine activ septemb compani oper worker cooper sociedad anónima labor share distribut worker compani activ extract copper gold silver copper product amount approxim tonn year mine activ mrt addit servic suppli potabl water mine area control mainten mine dam order avoid environment damag fall copper price world market mrt ceas copper extract septemb approv commiss rescu aid februari mrt restart copper oper novemb compani ceas product due lack fund trend copper price activ carri compani mainten prepar reserv short period gold mine publish account mrt main financi indic year gt tabl gt novemb compani appli temporari receivership continu gold silver activ repres total turnov judici review januari judg approv obtain agreement major creditor plan reduct reschedul mrt ordinari debt septemb privat investor promocion barti cro bought share compani transform public limit compani market copper extract or recov wast scrap mine copper or process fine grai powder call concentr copper ship smelter copper concentr treat refin cast ingot roll mill roll extrud forg eu countri oper copper mine produc quantiti portug tonn sweden tonn finland tonn spain tonn figur account mrt product tonn larg major eu consumpt countri import copper concentr eu million tonn intra commun trade limit compar import countri meaning import member state realis germani tonn spain tonn finland tonn copper internation trade london metal exchang lme copper metal price metal fluctuat sharpli copper price averag usd tonn quarter copper price averag usd tonn aid aid consist loan grant march instituto de crédito ofici ico state financi agenc attach ministri econom affair eur year euribor month extens decemb guarante grant govern andalusia loan eur made privat bank mrt loan complet disburs end restructur plan industri point view aim plan resum mine higher grade copper reserv continu oper gold silver plant month end complet explor southern part cerro salomón make extract million tonn or year continu remov overburden cerro salomón supplement product cerro salomón cerro colorado reach kt year year kt year end period consolid cost reduct energi suppli extern contractor invest propos plan period half amount eur million bulk carri half year financi viewpoint plan base featur termin insolv proceed accept creditor reduct credit obtain invest aid grant disburs esp million credit eur guarante govern andalusia approv rescu aid credit eur grant ico inform provid april workforc reduc septemb decemb result ceas mine gold silver kei factor restructur plan recoveri price copper plan assum copper price usd usd usd period figur obtain extrapol histor trend esp usd exchang rate assum esp usd semest esp usd esp usd period plan compani profit copper price stai usd tonn copper price lower minimum assum plan measur propos halt product mrt creat plan acknowledg compani belong integr copper group support state decis initi proceed commiss express doubt viabil compani assumpt plan price copper short term gener acknowledg commiss note price copper reach usd tonn solut compani stop product consequ copper extract mrt sourc revenu stop product aggrav deterior financi situat circumst mrt gener resourc pai debt supplier carri invest reason commiss consid restructur plan enabl mrt attain viabil commiss note plan assumpt mrt cost optimist sensit studi provid lastli commiss note beneficiari make signific contribut financ restructur plan resourc iii comment interest parti mrt interest parti comment sever criticis manag compani june septemb view critic financi situat present basi restructur plan plan includ start point write outstand debt convers subordin loan subordin equiti loan remain contribut major sharehold eur million capit eur million medium long term loan provid plan approv nation author commiss iv comment spain spanish author maintain plan assumpt copper price line expert forecast make sens provid sensit studi copper price reach minimum level compani stop product impact competit appreci compani import employ locat area high unemploy compani contribut financ plan ico loan grant market term letter date march spanish author confirm plan approv present assess aid articl ec treati aid grant member state state resourc form whatsoev distort threaten distort competit favour undertak product good affect trade member state incompat common market claim spanish author loan ico grant market term commiss note spain notifi restructur aid financi situat compani time grant evid privat investor grant loan mrt manag report indic commerci natur loan commiss consid state guarante loan eur loan ico eur confer advantag mrt financ state resourc part restructur plan present spanish author intend restor mrt long term viabil tend distort competit copper trade commun affect trade member state fall scope articl ec treati commiss assess aid restructur purpos firm difficulti rescu restructur guidelin aid fulfil condit order compat common market elig firm mrt insolv proceed termin januari compani resourc decreas similarli compani level indebted remain extrem high debt repres time mrt resourc mrt financi situat septemb owner close bankruptci compani resum product mrt regard quot firm difficulti quot mean rescu restructur guidelin recov state aid restor viabil rescu restructur guidelin requir restructur plan quot restor long term viabil firm reason timescal basi realist assumpt futur oper condit improv viabil deriv intern measur contain restructur plan base extern factor variat price demand compani great influenc market assumpt made gener acknowledg quot section point commiss note present case main factor viabil base price copper decis initi proceed commiss note short term plan assumpt copper price gener accept commiss note price copper reach minimum expect solut compani stop product step copper produc mrt highest product cost mrt case copper extract sourc revenu stop product aggrav deterior financi situat circumst mrt gener resourc pai debt supplier carri invest commiss consid ground restructur plan enabl mrt attain viabil spanish author provid element contradict commiss preliminari assess point commiss doubt confirm comment submit mrt debt accumul compani stop product verg bankruptci spanish author provid inform allai commiss doubt assumpt product cost includ plan copper price minimum contempl plan mrt made huge loss stop product comment submit mrt contrari confirm commiss doubt continu labour cost level origin plan number worker pai level make compani unviabl view forego commiss consid restructur plan enabl firm progress structur offer prospect long term viabil enabl stand feet rescu restructur guidelin requir fact mrt locat area elig region aid pursuant articl ec treati commiss account purpos capac reduct requir accord point rescu restructur guidelin present case compani viabl question aris condit aid limit minimum rescu restructur guidelin expect beneficiari aid make signific contribut restructur plan resourc commiss accept spanish author argument loan grant ico constitut signific contribut compani point recit loan constitut state aid commiss consid condit fulfil vi conclus commiss find spain unlawfulli grant loan eur breach articl treati reason state loan constitut state aid incompat common market articl council regul ec neg decis case unlaw aid commiss decid member state concern measur recov aid beneficiari state guarante commiss note consid compat common market adopt posit restructur plan reason state posit neg commiss consid continu abovement guarante incompat common market adopt decis articl state aid spain implement mina de rio tinto form loan amount eur incompat common market articl continu guarante grant spain favour mina de rio tinto loan worth eur grant privat bank constitut state aid incompat common market spain forthwith measur suspend guarante articl spain measur recov beneficiari aid refer articl unlawfulli made beneficiari recoveri effect delai accord procedur nation law provid effect execut decis aid recov includ interest date dispos beneficiari date recoveri interest calcul basi refer rate calcul grant equival region aid articl spain inform commiss month notif decis measur compli articl decis address kingdom spain brussel commiss mario monti member commiss oj oj oj footnot sale transact symbol price atlant copper provid fund amount esp million assum mrt exist debt state social secur tax amount esp million aid mrt approv spain region invest aid scheme authoris commiss amount esp million figur provid letter april differ includ plan chapter fact subsequ close financi year state quot polit commit popular parti activ grant credit esp million ico quot ico state financi agenc attach ministri econom affair serv implement econom polici measur accord guidelin laid govern subject rule decis adopt gener board compos repres ministri pinto vallei sierrita chino tohono san manuel robertson unit state ojo del salado chili highland vallei canada sourc mrt annual report oj