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Bosnia’s RiTE Ugljevik gets 3.6 mln euro excavator - report

Bosnia’s RiTE Ugljevik gets 3.6 mln euro excavator - report Author: RiTE Ugljevik. Licence: All rights reserved.

BANJA LUKA (Bosnia and Herzegovina), April 17 (SeeNews) – Bosnian coal miner and energy producer RiTE Ugljevik [BANJ:RTEU-R-A] has put into operation at its Bogutovo Selo open pit mine a 7 million marka ($3.8 million/3.6 million euro) excavator, local media reported on Friday.

A further three new machines for RiTe Ugljevik will be provided in the next three to four months, news agency Srna said, quoting the company's director Ziko Krunic.

RiTe Ugljevik said earlier it turned to a net loss of 11 million marka in 2014 from a net profit of 3 million marka a year earlier. Its power production totalled 1.59 million MWh, 2% above target while coal production was in line with targets at 1.75 million t in 2014.

RiTe Ugljevik, consisting of coal mine and the adjacent power plant, is part of power utility Elektroprivreda RS.

(1 euro = 1.95583 Bosnian marka)