Government of Serbia adopted strategy for restructuring and privatization of Public Company "Underground Coal Exploitation" - tender prior to end of year 2007

Government of Serbia has adopted strategy for restructuring and privatization of Public Company "Underground Coal Exploitation", which encompasses "Ibarski rudnici" near Baljevac, Zaječar-based mines "Lubnica", "Vrška Čuka" and "Bogovina", "Soko" from Sokobanja, Rakovica's "Rembas", "Jasenovac" near Krepoljin and Sjenica's "Štavalj".

The tender will be announced prior to the end of year 2007. According to the restructuring program, the debts of about 80m EUR of this company, which employs 4,300 workers, will be written off.

The new owner will be obliged to offer high-quality social and investment program.