Market sources cited issues with the smelter's debt as causing the plant to shut. The smelter’s power was cut off around midnight on Wednesday July 10, local media outlet Klix reported.
Nermin Džindic, federal minister of energy, mining and industry, told local media a request for the smelter’s bankruptcy is expected to be submitted today. Džindic also told local media it would seek new strategic partners and would continue speaking to its current partners about the smelter’s fate.
Commodity trading house Glencore and aluminium producer EGA were two companies that were named in discussions with the government to potentially take over the smelter.