Joint venture agreement from LNM and RZR Ljubija
According to the statement released from LNM, the company is on the verge of reaching an agreement with RZR Ljubija for its participation in development of the Ljubija iron ore mines in Bosnia Herzegovina. The agreement, which is expected to be finalized soon, is subject to both side's approval of the terms of the agreement. The mines, which were not operating since Yugoslav Civil War, have an annual capacity of around 1.5 million tons. In line with the agreement, LNM will invest to the mines and the region with the purpose of making the mines a stable source of iron ore. Moreover, LNM has signed social package agreement with trade union of Ljubija mines.