Bosnia and Herzegovina: Coalmine Banovici plans to increase its annual coal production

, SEE Energy News

Following the completion of planned investments, Bosnian coalmine Banovici announced that it will increase its annual coal production by between 500 and 600,000 tons. Currently, RMU Banovici excavates about 1.5 million tons of coal per year.

The investment project includes the purchase of a coal stacker and a conveyor belt for Turija open pit mine. The mine’s operator RMU Banovici said that it is already negotiating with a number of banks regarding the financing of this project. The operator said earlier that it plans to invest some 17 million euros in new equipment in 2020.

In the first half of 2020, RMU Banovici recorded a net profit in the amount of some 600,000 euros, compared to a net loss of 2 million euros a year earlier.