Glencore withdraws from negotiations the future of the Aluminij aluminium smelter in Bosnia is uncertain

Published: Jul 11, 2019 13:22

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Earlier, (EGA), a global aluminum company in the United Arab Emirates, and (Glencore plc), a Glencore company, had told the Bosnian government that they wanted to work strategically with the Aluminij Mostar aluminium smelter. But Glencore has recently pulled out of the talks. At present, the smelter has been shut down due to the interruption of power supply.

SMM7 11: the United Arab Emirates global aluminum company (EGA) and Glencore company (Glencore plc) have indicated to the Bosnian government that they want to carry out strategic cooperation with the Aluminij Mostar aluminum smelter.

But Glencore has recently pulled out of the talks.

The Aluminij aluminium smelter is the only aluminium smelter in Bosnia, but the smelter is in trouble because of high electricity and raw material prices and has no choice but to go bankrupt if it cannot find a strategic partner.

At present, the smelter has been shut down due to the interruption of power supply.

Dzindic, the energy minister, said negotiations were still under way with companies such as (EGA), the UAE global aluminium company.

UAE Global Aluminium has said it will plan the smelter for five years to restore solvency and double aluminium production.

Founded in 1975, Aluminij is Bosnia's third largest exporter. The plant has a capacity of 106500 tons and operating income of 249.41 million euros in 2017.

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