PODGORICA (Montenegro), October 28 (SeeNews) – Montenegrin coal mine Rudnik Uglja a.d. Pljevlja [MNG:RUPV] is expected to close the year with a profit, despite a 4.4 million euro ($6.1 million) first-half loss, local media reported, quoting the company's CEO.
Thanks to better performance and cost-cutting measures, Rudnik Pljevlja's loss in the first nine months stood at 907,000 euro, and the company is sure that the financial result at the end of the year will be positive, news portal Portalanalitika.me said at the weekend, quoting the company's executive director Vuk Rocen.
The coal mine faced difficulties in the second quarter due to the prolonged routine repair works at adjacent thermal power plant Pljevlja.
Italy’s A2A owns 39.5% of Rudnik Uglja, the Montenegrin government owns 31.1% and the remainder is under the control of small shareholders.
($=0.7258 euro)