Croatian company starts magnesite business in Kosovo

Oct. 25, 2010 - Split based company Iming from Stobrec has purchased two magnesite (MgCO3) mines in Kosovo, worth billions of Euros.
Golesh and Strezovce are the largest magnesite sites in Europe. It is thought they could produce 60 million Euros worth of minerals a year.
The 112 million Euros investment agreement was signed in Golesh, Pristina on Friday.
The Croatian company won the open international competition for the investment more than three years ago, but the project was postponed because of the recession.
Among Iming 14 other companies from China, India, Russia and Germany also competed.
It is reported that the company Iming is owned by Rustem Zogaj, a wealthy Kosovar residing in Croatia.
Croatian experts see the mine project in Kosovo as "the business of the century".
According to research both mines have 20 million tons of magnesite. Production is set to start in May 2011 and the company plans to employ 600 workers.
Also, on the same area drinking water wells have been found and the company even plans to start a water business.