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Turning around a Bosnian coal mine

Stanari mine
Stanari mine, west of Doboj in Republika Srpska

In May 2005 energy trader EFT acquired 72 percent of the Stanari mine and a 30 year concession. The following year, the company bought the remainder of the shares. The granting of a concession to a private investor was a novelty in the Western Balkans, where most coalmines are still owned by public companies. Things started to change almost immediately.

A new director was hired and the company took on more qualified personnel. EFT made investments in machinery totalling

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