AlbChrome realizes record-breaking investment at the Bulqiza Mines
26/12/2019 21:36
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AlbChrome has marked a record-brealing leval of investments for 2019 at the Bulqiza mine, with 27.3 million USD.
Well No.9 is the biggest investment in the mining sector of Albania for the past 30 years, even higher than investments made during the communist period.
Luan Salaj, Albchrome’s CEO, explained that the construction of Well 9, along with all other state-of-the-art technical installations worth nearly $ 20.5 million, Klos’s Traverbank worth about $ 5.2 million and assembly of the new machine uphill in Well no. 3 worth $ 1.6 million will enable mining to continue in this mine in safe working conditions. ”
The opening of well 9 takes the total investment of Albchrome to 55.6 million USD, and it will be above 70 million USD within 2021.
The annual production of the mine is expected to be 100.000 tons of chrome ore, which will increase its longevity with at least 20 years, something that promises new jobs.
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