The group has been granted the right to explore the chrome mines of Kalimash and Vlahna, which are expected to produce 210,000 tons of chrome a year
TIRANA, April 23 – A Turkish-Chinese group has been granted a concession to mine and process chrome in north-eastern Albania. The concession agreement was signed in Tirana by Economy Minister Dritan Prifti and representatives of Turkey’s Kurum Energy and Chinese Sichuan Jiannanchun International Group Ltd.
Under the 35-year deal, both investors which have created their Illyria Minerals Industry joint-venture pledge to invest 20 million euros during their first four years and create hundreds of jobs.
The group has been granted the right to explore the chrome mines of Kalimash and Vlahna, which are expected to produce 210,000 tons of chrome a year. The Turkish-Chinese group will also invest in the copper enrichment plant of Goraj which will be turned into a chromium plant.
Speaking at the signing ceremony, Minister Prifti said the two prestigious companies were joining to re-establish the chromium industry in Albania.
“This joint venture will continue the further processing of chrome to produce 60,000 tons of ferro-chromium per year. With a 20 million euro investment during the first four years, hundreds of jobs will be created in these areas,” said Prifi during the singing ceremony.
“This is a good sign for Albania as a country attractive to foreign investment,” added Prifiti assuring both companies of government support.
The concession has been signed under a build, own, operate and transfer (BOT) contract. The Turkish and Chinese ambassadors to Albania were present at the signing ceremony.
Albania has deposits of some six million tons of chrome and copper ore located near the border with Kosovo.
Chrome was Albania biggest export in the communist regime when the country ranked as one of the world’s largest chromium producers.
Data shows Albania exported some 50 million euros of chromium last year, mainly to China.
