Friday, January 28, 2005

World Bank survey puts Kosovo's mineral resources at 13.5bn euros

Kosova [Kosovo] mine [mineral] resources are worthy of 13.5 billion euros, according to a joint survey conducted by the Directorate for Mines and Minerals and the World Bank [WB].

The director for mines and minerals, Rainer Hengstmann, said in a press conference that those resources could generate 35,000 new jobs and would attract new investments.

Hengstmann said that the wealth of the mine in Sibofc [Sibovac] is estimated at 6.5 billion euros, wealth of Trepca at 3 billion, wealth of Feronikel 2 billion, whereas the wealth of the resources in other parts of Kosova were estimated at 2 billion euros.

He highlighted the need for making of investments in those mines, saying that some 1.8 billion euros of investment is needed.

There are 470 quarries in Kosova which do not possess licences to use mine resources. Hengstmann said that these companies could be licensed and operate legally.

The Independent Commission of Mines and Minerals, whose board would be comprised of three internationals and two locals, will issue licences for exploiting of mine resources in accordance with the rules.

The exploitation of mine resources in Kosova in the past was made by private companies, without clear rules, which often resulted in abuses.

But Adil Januzi, expert for mines, said that natural resources of Kosovo worth much more than Hengstmann presented. "Kosova has 13 billion tonnes of lignite only," he added.

Whereas Lorik Haxhiu, expert on mines and an adviser of the Ministry of Energetic and Mines, said that Kosova has a lot of natural resources, but their price is dependant on a number of factors.

One year ago Trepca's resources were estimated at 1.3 billion euros, but as result of price increase of minerals, now they are estimated at 3 billion euros.


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