According to Aluminij Mostar, Bosnia’s only aluminum factory, the organization’s management team has submitted a resignation letter after the plan of restart production was beginning to take shape.
In July, the smelter was closed due to the debt issue caused by the rising cost of alumina and electricity. The current total debt of Aluminij was around 380 million Bosnian marka. So far, the company couldn’t take immediate and effective measures to handle this issue.
The smelter attracted global investors such as those companies from China, Israel, and London-listed miner Glencore as well. They all sent offers to this factory but rejected by the Bosnia government.
Bosnia's Aluminij Mostar receives resignation letter from its management
18 Dec 2019 16:35 reported by Phoebus
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