Tax Administration of the Federation of Bosnia and Herzegovina (FBiH) has blocked the bank accounts of seven coalmines operating within the Bosnian power utility EPBIH due to multi-million debts to public funds and suppliers.
According to EPBIH’s expert analysis on the state of coalmines in the Federation, all of them need urgent restructuring since all are economically unsustainable. Mines keep accumulating multi-million losses and miners usually work in inhumane conditions without adequate equipment. All mines have low productivity in relation to the large number of employees, especially in administration.
Full article available for subscribers of Energy NEWS service (PDF publications, energy news, analyses, power and trading data, tenders)
Subscription fee: 800 EUR annually – company licensed
Tags: BIH, Bosnia and Herzegovina, coal, coalmine, debt, electricity, EPBIH, financial, Kreka