Glencore paid electricity for Aluminij for another four days, meeting in FBiH Government on July 8

MOSTAR, (Patria) - Aluminij Mostar will be paid for electricity for another four days, and the money was secured by Swiss Glencore, it was announced today from the Mostar company.  

"This move by our long-term partner and potential investor is in line with the latest attempt to find a solution for our survival," stated Aluminij. 

A meeting was held today at the FBiH Government with investors from Dubai interested in Aluminij, and a new meeting with Glencore was scheduled for Monday. 

The price of electricity will be discussed at that meeting to enable Aluminij's continued operations. Otherwise, Aluminij's debt is around 400 million KM, with the largest part, 280 million KM, relating to the debt for electricity. 

Minister of Energy, Mining and Industry Nermin Džindić said today after meetings with Aluminij representatives, and then with investors from Dubai, that the goal is for Aluminij to survive until the end of the year, and then find a strategic partner, otherwise bankruptcy looms.