Bosnia's Serb Republic to check ArcelorMittal's local operations for wrongdoings

By bne IntelliNews July 14, 2013

Bosnia's Serb Republic PM Zeljka Cvijanovic has confirmed that the authorities will make certain checks of the operations of ArcelorMittal's local unit in order to see if there have been any wrongdoings as alleged by the Republic's President Milorad Dodik, daily Nezavisne Novine reported.

Dodik said on July 13 the authorities believe there have been some misconduct in certain procedures regarding the transfer prices, adding the company might be using connected firms to export its profit from the Republic. Talks will be held with company representatives this week.

ArcelorMittal owns 51% of iron ore mining company ArcelorMittal Prijedor. In Bosnia's Federation, the global steel maker also owns Zenica-based steel mill ArcelorMittal Zenica.

Related Articles

270 migrants transferred to asylum after hours of chaos in Bosnia

270 migrants who had been living in tents in a park in Bosnia & Herzegovina’s capital Sarajevo were ... more

Bosnia’s Republika Srpska to place up to €200mn bond on international markets in mid-2018

Bosnia & Herzegovina’s Republika Srpska plans to issue a €200mn bond on ... more

Bosnian auto supplier Prevent to file €2bn claim against Volkswagen

Bosnian auto supplier Prevent is preparing to file a €2bn claim for damages against Volkswagen (VW) with a German court ... more