ACR puts mine in danger if leaving

“With the profits made so far, this company must excavate deeper in the mines because so far they have taken only the already open reserves. Another company would be obliged to invest from the beginning with its own capital and risk”, Bello declared.

The deeper excavation was an obligatory condition in the concession agreement, but it has not been executed. ACR says that one of the causes was the difficult financial situation, since every year for them was closed in losses. But Bello says that this argument is suspicious.

“From this moment and 6 or 7 years ago, no chrome producer has had losses, because the situation has been very favorable. Even those who extract not pure chrome have had good profits. I don’t think that this is a matter of bad management. The Ministry of Economy and the Government have the duty to verify how the transactions are realized”, Bello declared.

ACR admits that the entire chrome produced in Albania has been sold to the mother company “Decometal” in Austria with a price that is below the market cost. The latter exports chrome to China with high prices, a scheme that deteriorates the balance of ACR in Albania and increases the profits for Decometal. The former Deputy Minister, Pajtim Bello, suspects that there is a previously prepared scheme that aimed to exploit the reserves without cost and not execute the investments.

“If a company is losing for one or two years, it would file for bankruptcy. Everything must have been prepared under the care of the Ministry of Economy, which has insisted in postponing the investments and fulfilling the requests made by the miners in their strike”, Bello declared.

The Bulqize Chrome mine is the biggest in Europe and its reserves mount up to 2 million tons. Currently ACR produces 3000 tons per month, with a value of 32 million EUR of exports each year.

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