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20/05/2024
Mining NewsUncategorized

Albania revokes chromium mining concession rights of Turkey's Kurum

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.

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