28 C
Belgrade
Supported byspot_img
spot_img

Albania revokes chromium mining concession rights of Turkey's Kurum

Member of Europium Groupspot_img
Supported byspot_img

Kalimash is the second largest chromium mine in Albania after Bulqize, TopChannel said. It has estimated chromium ore reserves of 7.9 million tonnes with 25% chromium content.

Albania’s energy ministry has revoked the concession rights granted to Turkey’s Kurum on two chromium mines and two enrichment plants, according to Albanian media reports.
The decision of Albania’s energy ministry came after the Turkish iron and steel producer failed to fulfil conditions set in the concession contract, TV broadcaster Top Channel reported on Monday.
Kurum did not implement the mandatory investment plan, nor did it pay the annual concession fee of 303,000 euro, TopChannel quoted the energy ministry as saying.
The company lost its concession rights for the chromium mines Kalimash and Vllaha, as well for two chromium and copper enrichment plants.
Kalimash is the second largest chromium mine in Albania after Bulqize, TopChannel said. It has estimated chromium ore reserves of 7.9 million tonnes with 25% chromium content.
Kurum is currently in a restructuring process. It owes banks and international financial institutions some 134 million euro in credits and overdrafts, Top Channel said.

source: seenees.com

Supported byElevatePR Digital

Related News

CATL explores $1.5 billion fund to boost global battery supply chain

China's Contemporary Amperex Technology (CATL), the world's largest electric vehicle battery manufacturer, is in discussions with overseas sovereign wealth funds and private offices of...

Securing Europe’s critical raw materials: Addressing funding challenges for sustainable extraction

Bernd Schäfer, CEO of EIT Raw Materials, advocates for substantial investment in Europe's mining sector following the implementation of the Critical Raw Materials Act...

Strengthening global sustainability: The SCMA and critical minerals for climate goals

Canada's Minister of Energy and Natural Resources, Jonathan Wilkinson, together with Sweden's Minister for Energy, Business and Industry, Ebba Busch, announced Sweden's accession to...

Nickel mining and the green energy challenge: Balancing supply with environmental responsibility

Nickel is poised as a critical element in the global shift towards green energy, yet its extraction poses significant environmental challenges, recently highlighted by...
Supported by
Supported by
Supported by
error: Content is protected !!