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

Pre-election tensions in Bosnia could derail international aid, S&P warns

Increasing political maneuvering ahead of the October 2018 general election in Bosnia & Herzegovina could again derail external financing flows and the country’s solid economic growth, ... more

Bosnia edges closer to EU candidate status as it submits long-delayed questionnaire

Bosnia & Herzegovina on February 28 submitted answers to its European Commission (EC) questionnaire, taking it a step closer to achieving EU accession candidate status.  Aside from ... more

EBRD to invest above €700mn in Bosnian road network

The European Bank for Reconstruction and Development (EBRD) said on February 26 it has signed a memorandum of understanding with Bosnia & Herzegovina’s two autonomous entities – the ... more