EFTs Stanari mines in Bosnia, successful case of investment into Balkans energy sector

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The case of the Stanari mine has once again reconfirmed its status as one of the best examples of successful privatizations and transformations in Bosnia and Herzegovina to date. 2010 was the fourth consecutive year of record coal production at the Stanari mine. 794,364 tons of coal were excavated in 2010, a 11.3 % rise on the previous year. In the same period 5 200 000 cubic meters of overburden was excavated, which represented a 4.3% rise on the previous year. The mine has taken on 10 new workers in 2010. Since the Group took over in 2005, over 200 new jobs have been created at the mine. The mine now employs 448 full time employees. The site of the future TPP Stanari and system of access roads have also been completed in 2010, while preparation of the water tight ash disposal cells has also commenced. Considerable effort has been put into collaboration with the local community and various environmental programs in 2010, including continuation of the forestation programs, flood prevention and the cleaning of the Ostruznja river basin.

To date over EUR 40 million has been invested by EFT in the Stanari mine. The Group has paid an additional EUR 20 million on account of tax and concession fees. The mine certified again in 2010 to adhere with the international ISO standards, including ISO 90001-Quality Management System, ISO-14001