Global crisis affects Albanian ore industry

TIRANA, Dec 16 – The Albanian mining industry is now in a difficult period following the fall of mineral prices on the international market.
The Albanian local press has reported that Albanian Chrome ACR, the largest chrome mining and production company in Albania, stopped production at the ferrochromium plant in Elbasan due to shrinking international markets.
At the same time, miners recently protested in front of the government building asking for better treatment, including a lower age for pension and higher salaries and a 13th monthly payment at the end of the year.
Miners say that mining activity is also suffering shortages as a result of excess production in Albania, with minerals unshipped and sitting for months at the Durres port, waiting for international metal prices to increase.
The company denies there are plans to cut its production in the long run.
“Albanian Chrome is highly interested to work at full capacity in Elbasan as elsewhere. We believe that certain international market conditions are temporary and things will improve soon,” according to Alban Bala, an authorized ACR spokesperson, adding there are “several investments going on in the facilities Albanian Chrome manages and these investments have a long-run vision.”
Albanian Chrome ACR is the new name of DARFO Albania company, which was received a concession contract from the government of Albania in 2001,to redevelop almost 50 percent of the chrome-related industry facilities in the country.
Darfo Albanian was taken over in spring 2007 by the Austrian DCM DECOmetal and the Russian Terwingo group of companies.
Analysts note that the company benefited by very high prices on the international market during 2007, in spite of numerous crises occurring when the new owners took over the mine and the other ferrochromium facilities.
During 2007, Albania saw record exports of chrome and copper due to high prices on the international market.