The talks to save Bosnia's largest aluminium producer Aluminij Mostar, held on Monday between a British-Swiss investor and authorities in Federation (FBiH) entity, have failed, minister of Energy, Mining and Industry Nermin Dzindic told a press conference after the unsuccessful negotiations were closed.

The British-Swiss Glencore corporation expressed interest in the company, and the meeting initially set to take place on last Friday was rescheduled for Monday, with the hope it would result in an agreement on the price of electricity needed for the continuation of Aluminij’s work.

“We asked for the meeting to be held today. Following the verbal information that Glencore gave to Aluminij’s management and the offer to co-finance or finance the electricity in amount of EUR 50 per megawatt hour, the meeting started off with that information and introductory parameters,” according to the minister, who said that Glencore representatives now said they were not prepared for such arrangement.

“Moreover, I think they even problematized the letter they sent through Aluminij management to the FBiH Government. I think they withdraw from the talks and utterly unprofessionally expressed their stances today, taking a step backwards not a step forward,” added the minister.

The FBiH Government will continue searching for a strategic partner, to save the company, said Dzindic.

“This morning we received one more letter of intent from Manna World Holding Trust, in which they ask for a meeting with the FBiH Prime Minister, Vice-President and me. We’ll continue searching for a strategic partner,” stressed minister Dzindic.

Reportedly, the meeting with a new possible investor is set to take place on Wednesday.