Contract on north Kosovo mine signed with U.S. consortium

BELGRADE The Mining, Metallurgical and Chemical Combine Trepca and U.S. consortium New Generation Power (NGP) have signed a contract on technical business cooperation. The document was signed at the Serbian government headquarters in Belgrade on Friday and according to announcements, it envisages "new investments, larger scope and better quality of production and opening new jobs in the company." Contract on north Kosovo mine signed with U.S. consortium The value of the investment, it was also said, "will be released upon the conclusion of the feasibility study which will be drawn up in the next few weeks." Serbian Minister of Mining and Natural Resources Milan Bacevic underscored that the investment of the consortium in northern Kosovo and Metohija, where Trepca is located, would improve the position in the political negotiations which will continue and take on a good turn. "NGP is the most powerful consortium in Illinois and one of the strongest in the U.S. and its representatives recognised their economic interest and promised political support and assistance because NGP is supported by a number of U.S. senators and congressmen," Bacevic told a news conference in the Serbian government after signing the contract. The minister said that the agreement was signed on grounds of a protocol and agreement on cooperation which he himself signed on behalf of the Serbian government in Illinois in early March. Bacevic also noted that this is the first tangible step after the talks and agreements. When asked why the agreement was signed with a U.S. company, Bacevic said that a similar agreement could have been closed "with somebody else" - but they "would not be able to follow Serbia's tempo and intentions to the end." NGP President Chirinjeev Kathuria said that the company is cooperating with the State Department with a view to resolving legal issues and problems concerning Trepca. He noted that after the signing of the contract with Serbia, "the company would go on to do the same with the Kosovo side," and expressed the belief that the agreement will contribute "to a better life for all citizens and that the Brussels agreement between Belgrade and Pristina would contribute to acceleration of the process." Kathuria said that the talks concerning lithium are also underway as Serbia is one of the countries which hold the world's biggest reserves of the ore. Beta news agency quoted him as saying that the consortium would, "along with the U.S. State Department," discuss investments in the southern part of Trepca "with Kosovo." "The idea is for NGP to create a public partnership for Trepca where the governments of Serbia and Kosovo will always be majority owners of the mines. Our goal is for Trepca to become one of the biggest mining capacities in the world," said Kathuria. Trepca Director General Jovan Dimkic believes that this is just the first step in setting up long-term cooperation between the two countries which should result in strategic partnership. Later in the day, Serbian President Tomislav Nikolic received Chirinjeev Kathuria and said that the consortium would enjoy "the full support of the state organs of Serbia in realizing this joint project." According to Nikolic, the best way to solve the problem of the southern Serbian province is "to secure jobs for all citizens." The NGP-led consortium includes Eaton Corporation, Jones Lang LaSalle, Lockheed Martin, Martifer Group, Talesun Solar, and WESCO. Trepca has existed for over 85 years and it used to employ 25,000 workers. The company is now undergoing the restructuring process and its legal status is currently "undefined," according to Tanjug. 65 to 70 percent of Trepca's capacities are situated in southern Kosovska Mitrovica, controlled by ethnic Albanians, while the rest is located in the northern, Serb part of the ethnically divided town in northern Kosovo. Chirinjeev Kathuria, Tomislav Nikolic (Tanjug) Tanjug

Contract on north Kosovo mine signed with U.S. consortium

The value of the investment, it was also said, "will be released upon the conclusion of the feasibility study which will be drawn up in the next few weeks."

Serbian Minister of Mining and Natural Resources Milan Bačević underscored that the investment of the consortium in northern Kosovo and Metohija, where Trepča is located, would improve the position in the political negotiations which will continue and take on a good turn.

"NGP is the most powerful consortium in Illinois and one of the strongest in the U.S. and its representatives recognised their economic interest and promised political support and assistance because NGP is supported by a number of U.S. senators and congressmen," Bačević told a news conference in the Serbian government after signing the contract.

The minister said that the agreement was signed on grounds of a protocol and agreement on cooperation which he himself signed on behalf of the Serbian government in Illinois in early March. Bačević also noted that this is the first tangible step after the talks and agreements.

When asked why the agreement was signed with a U.S. company, Bačević said that a similar agreement could have been closed "with somebody else" - but they "would not be able to follow Serbia's tempo and intentions to the end."

NGP President Chirinjeev Kathuria said that the company is cooperating with the State Department with a view to resolving legal issues and problems concerning Trepča.

He noted that after the signing of the contract with Serbia, "the company would go on to do the same with the Kosovo side," and expressed the belief that the agreement will contribute "to a better life for all citizens and that the Brussels agreement between Belgrade and Priština would contribute to acceleration of the process."

Kathuria said that the talks concerning lithium are also underway as Serbia is one of the countries which hold the world's biggest reserves of the ore.

Beta news agency quoted him as saying that the consortium would, "along with the U.S. State Department," discuss investments in the southern part of Trepča "with Kosovo."

"The idea is for NGP to create a public partnership for Trepča where the governments of Serbia and Kosovo will always be majority owners of the mines. Our goal is for Trepča to become one of the biggest mining capacities in the world," said Kathuria.

Trepča Director General Jovan Dimkić believes that this is just the first step in setting up long-term cooperation between the two countries which should result in strategic partnership.

Later in the day, Serbian President Tomislav Nikolić received Chirinjeev Kathuria and said that the consortium would enjoy "the full support of the state organs of Serbia in realizing this joint project."

According to Nikolić, the best way to solve the problem of the southern Serbian province is "to secure jobs for all citizens."

The NGP-led consortium includes Eaton Corporation, Jones Lang LaSalle, Lockheed Martin, Martifer Group, Talesun Solar, and WESCO.

Trepča has existed for over 85 years and it used to employ 25,000 workers. The company is now undergoing the restructuring process and its legal status is currently "undefined," according to Tanjug.

65 to 70 percent of Trepča's capacities are situated in southern Kosovska Mitrovica, controlled by ethnic Albanians, while the rest is located in the northern, Serb part of the ethnically divided town in northern Kosovo.