Bosnia and Herzegovina-based ArcelorMittal Zenica, a subsidiary of Luxembourg-based steelmaker ArcelorMittal, is to resume production following the suspension of production operations in November, according to a report by Reuters. The suspension of production in November was due to unfavorable market conditions that led to lower steel demand in Europe, as SteelOrbis previously reported.
The company will also resume iron ore deliveries from its Prijedor mines. The government and trade unions in Bosnia have warned that a longer suspension of production and mining may affect Bosnia’s economy negatively.
In addition, workers at the plant, who decided to go on strike after the suspension of production have now signed a a collective agreement regarding the wages with management.
The company has an annual production capacity of almost one million mt and employs about 2,300 workers.
