Skopje, 25 May 2019 (MIA) – The Government had every right to terminate its Kazandol mine concession agreement, according to a verdict of the Administrative Court cited in a Government’s press release.
The lawsuit brought by concessionaire Sardich MC to the Administrative Court was rejected as unfounded, the press release says.
The Court found that the concessionaire didn’t build a copper processing plant within the legal timeframe in line with Article 13 Part 1 of the concession agreement nor did it build a manufacturing plant for finished copper products.
These agreement provisions, the release adds, had been determined in accordance with laws on mineral risources, on concessions, and on public-private partnership.
“The Government remains committed to supporting investments into the country and creating a climate for economic prosperity, but only in line with legal rules and regulations,” the release reads. mr/14:27