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North Macedonia: Signed decision on unilateral termination of contract for Ilovica mine

19.Oct 2019.

Macedonian Economy Minister Kresnik Bekteši has signed a draft decision on unilateral termination of the contract for the Ilovica-Stuka mine, after which the document will be discussed by the Government. As things stand, there is consensus in the Government on this issue. Bektashi said the Government had arguments and would not make any emotional decision, but only a decision within legal procedures.

“If they think we should go to an international court, we, as a state and as the Government, are ready to defend our views. The decision of the Second Instance Commission is final. A proposal for a decision on unilateral termination of the agreement with Ilovica has already been signed, which will go through the government procedure, through the General Secretariat, through the relevant committees and then the Government session, where a discussion should be held and an appropriate decision adopted, ”explained Bekteshi.

Euromax Resources has confirmed that it has received a notification from the Macedonian Ministry of Economy of the decision of the State Commission for Administrative and Labor Procedures in the Second Degree, which rejected the company’s appeal against the decision of the Ministry of Economy’s rejection, as stated in the company announcement of July 12, 2019 . years. The announcement refers to the Ilovica 6 concession, while the Ilovica 11 concession remains unchanged.

The notice allows the company to appeal the decision of the State Commission within 30 days at the Administrative Court in Northern Macedonia. Based on a strong legal case, the company intends to appeal. Other remedies, including international arbitration, remain available and will be annexed if necessary, the company said.

Euromax Resources expects to resolve the problem with all relevant Government institutions in accordance with the Mineral and Administrative Laws of Northern Macedonia, the company said.

Source: factor.mk