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Mytilineos Group targets Kosovo mines


Prishtinë, Oct 16, 2006 - One of the greatest creditor claimant of Trepça, the Greek Mytilineos Group, is interested in Kosovo’s mines. According to Koha Ditore, this group had reached an agreement with former president of Serbia, Slobodan Milosevic, to exploit Trepça minerals ten years ago.

According to Koha, the Greek company Metka, part of the Mytilineos Group, has recently reached an agreement with the French company, which is already present in Kosovo, to have joint energy projects in Southeastern Europe. Most likely these projects will include Kosovo, where Alstom has been present for seven years now.

KEK officials told Koha Ditore that the contract with Alstom has so far cost €126 million and that Alstom is intending to stay in Kosovo for at least six more months.

Ekrem Tahiri, Kosovo Trust Agency Spokesperson, said the new administrator, who will deal with Trepça debts and the moratorium on Trepça, would solve the Trepça creditors issue.

Meanwhile, UNMIK Pillar IV Spokesperson, Mechthild Henneke, said the issue of the Mytilineos Group has not been solved yet. “There were also other such requests and the issue should be verified by a legal authority,” Henneke told Koha Ditore.

The Mytilineos Group said they have signed a contract with the legal owners of the Trepca mine in compliance with the law of the Federal Republic of Yugoslavia. The general amount of the agreement was $519 million and Trepça was to give lead and zinc at a value of $250 million to the Mytilineos Group.

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Kosovo: General Information
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Why do business in Kosovo?
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