West Ready To Loot Serbia's Mineral-Rich Kosovo Province
1. "Mining Opportunities May Abound in the New Kosovo"
2. 15 Companies Put Up for Sale in Kosovo
--- In yugoslaviainfo @yahoogroups.com, Rick Rozoff wrote:
http://www.resourceinvestor.com/pebble.asp?relid=14927
Resource Investor
November 24, 2005
Mining Opportunities May Abound in the New Kosovo
By Stephen Clayson
-The resources include bauxite, lead-zinc, nickel
laterites, and a highly significant proportion of
Europe's lignite coal deposits.
-The mineral assets intended for privatisation in
Kosovo have been deemed socially owned and are held by
in trusteeship by UNMIK, thus giving it authority to
privatise them.
-Whatever settlement is reached...foreign troops are
likely to remain in the province to maintain order for
some time afterwards.
LONDON - The uncertain political status of the
Serbian province of Kosovo has left a variety of
possibly interesting mineral assets in a state of
suspension. Now however, the powers that be in Kosovo
are organising the sale of these assets, and
concurrently offering assurances on the long-term
political stability of the province.
Following the NATO lead occupation of Kosovo in 1999,
the province was established as a UN protectorate
whilst technically remaining part of Serbia. Although
no long term political settlement has yet been
established between Serbia, Kosovo and the UN, the
interim UN administration, the UN Mission in Kosovo
(UNMIK), feels that a sound enough political basis has
been established for province's war ravaged economy to
return to some sort of normality.
Part of the way in which UNMIK intends to engineer
this is by privatising some of the province's mineral
resources, which are fairly extensive and range in
stages of development from the pure green field to the
developed but requiring restoration. The resources
include bauxite, lead-zinc, nickel laterites, and a
highly significant proportion of Europe's lignite coal
deposits. The latter might provide an opportunity for
the construction of an associated power station with a
ready market for its output.
The privatisation of mineral assets has already begun;
last week saw a deal signed between UNMIK and a
company called International Mineral Resources for the
purchase by the latter of Ferronikeli, a complex in
Kosovo of nickel mining, processing and smelting
facilities. International Mineral Resources is a
subsidiary of Eurasian Mineral Resources, a sizable
private mining and metals firm. The Ferronikeli assets
are expected to be sold for 30.5 million euros, which
given the strength of today's nickel market could
prove a bargain if they can be expeditiously and
economically returned to production by their new
owners.
The mineral assets intended for privatisation in
Kosovo have been deemed socially owned and are held by
in trusteeship by UNMIK, thus giving it authority to
privatise them.
Privatisations may be special or regular, the
difference being that special assets may have
conditions or obligations attached to their sale.
According to Dr Joachim Ruecker, Deputy Special
Representative of the Secretary-General United Nations
in Kosovo, some mining assets are likely to be classed
as special privatisations.
However, the conditions imposed by UNMIK are not
intended to be too onerous, and may be limited to
stipulations such as undertaking a certain amount of
mineral processing work within Kosovo or employing a
certain number of local staff.
A key issue for those considering the purchase of
assets being privatised in Kosovo has to be future
security of title. On this issue Ruecker offers the
assurances of UNMIK that there are likely to be few
instances of ongoing title disputes, and that even if
this were to be the case, physical restitution to
plaintiffs would not be a legal option.
A further pivotal question for investors will be that
of when an ostensibly permanent political settlement
can be reached, both to resolve Kosovo's international
status and the ethnic tensions within the province.
This will probably be in large part determined by the
UN Security Council, and could happen as early as
2007. Whatever settlement is reached however, foreign
troops are likely to remain in the province to
maintain order for some time afterwards.
Kosovo has a number of points somewhat in its favour
as a new mining location. It is located on the edge of
Europe - entail logistical benefits for exports and
imports.
The official currency of the province is and is likely
to remain the euro, lessening the currency risk to any
operation.
Labour costs in the province are low, being estimated
on average at around 200 euros per month, while levels
of education remain fairly high and labour relations
are reportedly generally cordial. Most crucially,
Kosovo's new economy is being conceived as free market
in its orientation.
Kosovo's physical infrastructure undoubtedly requires
repair and improvement, but this is being undertaken
by the administration, and standards in any case
remain higher than in many comparable extra-European
mining locations.
Access to sea cargo facilities in neighbouring Albania
and Montenegro is practicable, and a railway running
south from Kosovo to Thessaloníki in Greece could
feasibly be employed if the necessary line
improvements can be made within the province.
In the final analysis, although political risks remain
somewhat high in the longer term for mining investors
in Kosovo, the acquisition of assets in the province
now might represent good value when global market
conditions and local economic and geological factors
are taken into account.
--- End forwarded message ---
From: Rick Rozoff
Date: Wed Nov 30, 2005 11:39 pm
Subject: Kosovo: West Sells Off Another Group Of Serbian
Socially-Owned Enterprises
http://www.forbes.com/business/commerce/feeds/ap/2005/11/30/ap2360959.html
Associated Press
November 30, 2005
15 Companies Put Up for Sale in Kosovo
Kosovo's sunflower oil producer, a brick maker, a pipe
factory and two hotels were among 15 state firms put
up for sale Wednesday in hopes of boosting the economy
in the disputed province.
The Kosovo Trust Agency launched the 11th round of
privatization in an effort to sell the companies,
which were once owned by their workers and managers
under a system set up during communist-era Yugoslavia.
The privatization agency, which has advertised the
companies on its Web site, is hoping 16 new firms will
be created when the sales are completed.
Privatization is among the most sensitive issues in
Kosovo, which was placed under U.N. administration in
1999 following NATO air strikes that ended a Serb
crackdown on independence-seeking ethnic Albanians.
The process of privatization in Kosovo is complex in
part because it is unclear whether Kosovo will become
independent or remain part of Serbia-Montenegro, the
successor state of Yugoslavia. Serbia's authorities
have fiercely opposed the privatizations.
The Kosovo Trust Agency, the U.N. entity responsible
for privatizing the enterprises and putting them on
solid legal footing, wants private entrepreneurs to
assume the risk of modernizing the industries.
The companies are considered inefficient and
dilapidated after years of neglect.
1. "Mining Opportunities May Abound in the New Kosovo"
2. 15 Companies Put Up for Sale in Kosovo
--- In yugoslaviainfo @yahoogroups.com, Rick Rozoff wrote:
http://www.resourceinvestor.com/pebble.asp?relid=14927
Resource Investor
November 24, 2005
Mining Opportunities May Abound in the New Kosovo
By Stephen Clayson
-The resources include bauxite, lead-zinc, nickel
laterites, and a highly significant proportion of
Europe's lignite coal deposits.
-The mineral assets intended for privatisation in
Kosovo have been deemed socially owned and are held by
in trusteeship by UNMIK, thus giving it authority to
privatise them.
-Whatever settlement is reached...foreign troops are
likely to remain in the province to maintain order for
some time afterwards.
LONDON - The uncertain political status of the
Serbian province of Kosovo has left a variety of
possibly interesting mineral assets in a state of
suspension. Now however, the powers that be in Kosovo
are organising the sale of these assets, and
concurrently offering assurances on the long-term
political stability of the province.
Following the NATO lead occupation of Kosovo in 1999,
the province was established as a UN protectorate
whilst technically remaining part of Serbia. Although
no long term political settlement has yet been
established between Serbia, Kosovo and the UN, the
interim UN administration, the UN Mission in Kosovo
(UNMIK), feels that a sound enough political basis has
been established for province's war ravaged economy to
return to some sort of normality.
Part of the way in which UNMIK intends to engineer
this is by privatising some of the province's mineral
resources, which are fairly extensive and range in
stages of development from the pure green field to the
developed but requiring restoration. The resources
include bauxite, lead-zinc, nickel laterites, and a
highly significant proportion of Europe's lignite coal
deposits. The latter might provide an opportunity for
the construction of an associated power station with a
ready market for its output.
The privatisation of mineral assets has already begun;
last week saw a deal signed between UNMIK and a
company called International Mineral Resources for the
purchase by the latter of Ferronikeli, a complex in
Kosovo of nickel mining, processing and smelting
facilities. International Mineral Resources is a
subsidiary of Eurasian Mineral Resources, a sizable
private mining and metals firm. The Ferronikeli assets
are expected to be sold for 30.5 million euros, which
given the strength of today's nickel market could
prove a bargain if they can be expeditiously and
economically returned to production by their new
owners.
The mineral assets intended for privatisation in
Kosovo have been deemed socially owned and are held by
in trusteeship by UNMIK, thus giving it authority to
privatise them.
Privatisations may be special or regular, the
difference being that special assets may have
conditions or obligations attached to their sale.
According to Dr Joachim Ruecker, Deputy Special
Representative of the Secretary-General United Nations
in Kosovo, some mining assets are likely to be classed
as special privatisations.
However, the conditions imposed by UNMIK are not
intended to be too onerous, and may be limited to
stipulations such as undertaking a certain amount of
mineral processing work within Kosovo or employing a
certain number of local staff.
A key issue for those considering the purchase of
assets being privatised in Kosovo has to be future
security of title. On this issue Ruecker offers the
assurances of UNMIK that there are likely to be few
instances of ongoing title disputes, and that even if
this were to be the case, physical restitution to
plaintiffs would not be a legal option.
A further pivotal question for investors will be that
of when an ostensibly permanent political settlement
can be reached, both to resolve Kosovo's international
status and the ethnic tensions within the province.
This will probably be in large part determined by the
UN Security Council, and could happen as early as
2007. Whatever settlement is reached however, foreign
troops are likely to remain in the province to
maintain order for some time afterwards.
Kosovo has a number of points somewhat in its favour
as a new mining location. It is located on the edge of
Europe - entail logistical benefits for exports and
imports.
The official currency of the province is and is likely
to remain the euro, lessening the currency risk to any
operation.
Labour costs in the province are low, being estimated
on average at around 200 euros per month, while levels
of education remain fairly high and labour relations
are reportedly generally cordial. Most crucially,
Kosovo's new economy is being conceived as free market
in its orientation.
Kosovo's physical infrastructure undoubtedly requires
repair and improvement, but this is being undertaken
by the administration, and standards in any case
remain higher than in many comparable extra-European
mining locations.
Access to sea cargo facilities in neighbouring Albania
and Montenegro is practicable, and a railway running
south from Kosovo to Thessaloníki in Greece could
feasibly be employed if the necessary line
improvements can be made within the province.
In the final analysis, although political risks remain
somewhat high in the longer term for mining investors
in Kosovo, the acquisition of assets in the province
now might represent good value when global market
conditions and local economic and geological factors
are taken into account.
--- End forwarded message ---
From: Rick Rozoff
Date: Wed Nov 30, 2005 11:39 pm
Subject: Kosovo: West Sells Off Another Group Of Serbian
Socially-Owned Enterprises
http://www.forbes.com/business/commerce/feeds/ap/2005/11/30/ap2360959.html
Associated Press
November 30, 2005
15 Companies Put Up for Sale in Kosovo
Kosovo's sunflower oil producer, a brick maker, a pipe
factory and two hotels were among 15 state firms put
up for sale Wednesday in hopes of boosting the economy
in the disputed province.
The Kosovo Trust Agency launched the 11th round of
privatization in an effort to sell the companies,
which were once owned by their workers and managers
under a system set up during communist-era Yugoslavia.
The privatization agency, which has advertised the
companies on its Web site, is hoping 16 new firms will
be created when the sales are completed.
Privatization is among the most sensitive issues in
Kosovo, which was placed under U.N. administration in
1999 following NATO air strikes that ended a Serb
crackdown on independence-seeking ethnic Albanians.
The process of privatization in Kosovo is complex in
part because it is unclear whether Kosovo will become
independent or remain part of Serbia-Montenegro, the
successor state of Yugoslavia. Serbia's authorities
have fiercely opposed the privatizations.
The Kosovo Trust Agency, the U.N. entity responsible
for privatizing the enterprises and putting them on
solid legal footing, wants private entrepreneurs to
assume the risk of modernizing the industries.
The companies are considered inefficient and
dilapidated after years of neglect.