Turning around a Bosnian coal mine
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