The Balkan country of Bosnia has resolved the share ownership structure of the Aluminij primary aluminium smelter and will now look to sell a controlling stake in the company, according to local news reports.
The ownership issue, resulting from the distribution of shares to mostly Bosnian Croat workers after the 1990s war, has been the subject of long and bitter argument within the country but a deal has now been signed between the government and the company, according to local news reports.
It provides both for compensation for workers employed by the company before the war and ratifies a compromise which will see the disputed 88% stake divided equally between the state and employees. The balance 12% is owned by Croatian products manufacturer TLM.
The Bosnian prime minister was quoted as saying that a tender document for the sale of the state's 44% stake will be published in around a month's time.
Aluminij announced in June an upgrade package that will lift primary metal capacity from the current 120,000tpy to 132,000tpy.
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