Kosovo’s parliament voted last Friday to nationalize a huge mining complex, Trepca, and save it from bankruptcy; bankruptcy proceedings would have otherwise begun on November 1^st.

Economic crisis turns political

Creditors have claims against Trepca to the tune of €1,4bn. That is more than 20% of Kosovo’s GDP. However, the mining complex is one of the biggest employers in Kosovo, which suffers from 32% unemployment.

The vote was not unanimous; 79 out of 120 MPs voted in favour; Serbian lawmakers boycotted the vote.

The Prime Minister of Kosovo, Isa Mustafa, proclaimed the mineral resources “the property of the Republic of Kosovo.” The law envisages the government of Kosovo owning 80% of the company with the miners keeping a 20% share.

https://www.neweurope.eu/article/trepca-kosovo-nationalizes-bankrupt-mining-complex-serbian-enclave/