June 6, 2013 / 1:55 PM / 6 years ago

Bosnia's Aluminij Mostar to shut on June 17 due to losses

SARAJEVO, June 6 (Reuters) - Bosnia’s sole aluminium smelter, Aluminij Mostar, said its supervisory board has decided to shut down the plant on June 17 after it had continued to make losses due to high power costs and lower metal prices.

“The decision was passed unanimously after the financial results in the first four months showed the smelter has been posting a monthly loss of 9.7 million Bosnian marka ($6.5 million”, its General Manager Ivo Bradvica said in a statement on Thursday.

The plant has capacity of around 160,000 tonnes a year of aluminium and employs 900 people. ($1= 1.490 Bosnian marka)

Reporting by Maja Zuvela; Editing by Anthony Barker

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