The shareholders' assembly of Bosnia's only aluminium smelter that filed for bankruptcy in July last year has approved the business cooperation agreement between the Abraham Group and the shareholders.

The shareholders’ assembly approved the lease of the company to the Israeli-Chinese Abraham Group.

Representatives of Bosnia’s Federation entity government, which owns 44 percent of Aluminij and the Government of Croatia, which owns 12 percent of ownership, have voted in favour of the agreement.

A small group of shareholders was against it, but the agreement was accepted

According to the majority shareholders, the production should first be started at the foundry, then at the anode plant and in the electrolysis plant. The restart also envisages the employment of about 200 workers through several stages.

Zlatko Topic, the representative of shareholders who rejected the agreement said they cannot understand the two governments, FBiH government and Croatian government, who agreed to the alleged fraud whereby over € 250 million will be stolen the state.

“I cannot believe that the Prime Minister and the line Minister coming from the private sector have agreed to this,” Topic said.