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Albanian Times, April 11, 1996

From: Albanian Times <AlbaTimes@aol.com>

The Albanian Times (by AlbAmerica TRade & Consulting International) Directory

CONTENTS

  • [1] Albanian Elections Set for May 26

  • [2] Canada's NEBEX Expands Operation in Albania

  • [3] Tirana Seminar Discusses Legal Defense

  • [4] Albania Rehabilitates Power Stations


  • [1] Albanian Elections Set for May 26

    TIRANA, April 10 - President Sali Berisha has set May 26 as general election date, Albanian Television reported on Wednesday night. A presidential decree confirmed the end of the parliament's term and the kick off of the election campaign. Berisha's Democratic Party, fresh from a two-day convention, insist the Socialists, the renamed heirs of the former communists, are unwilling to reform and want to take the country back to old days. The Socialist accuse the Democrats as corrupt and want them removed from power. A law approved in December last year, bars former communist officials and former members of secret police from power until 2002. A state commission is scrutinizing the lists of candidates presented by the political parties to check if they comply with the law. Leftists parties are said to be doubling the number of listed candidates as a precaution in case some of them are dropped out by the commission. (Albanian Times)

    [2] Canada's NEBEX Expands Operation in Albania

    CALGARY, April 10 - In a significant expansion of its extensive interests in Albania, NEBEX Resources Ltd. is acquiring the 11 known copper deposits, including four producing mines, in its 400 square kilometer Mirdita concession where exploration drilling is underway. Brian Douglas, NEBEX president, reports that a letter of intent covering this acquisition has been signed with Albanian Copper Corporation, the government company responsible for Albania's copper industry. The Albanian Geological Survey (GJEOALBA) reports that the 11 deposits contain total reserves of 45 million tons averaging 1.5% copper. Detailed terms are being finalized, Mr. Douglas reported. The formal agreement will be subject to a due diligence review by NEBEX and delivery of clear titles by Albanian Copper. The 11 VMS-type polymetallic deposits are distributed at 1.6 to 3.2 kilometer intervals along a 35 kilometre distance. The Albanian mining industry focused on the copper content of these deposits which are now known to also have substantial but undeveloped zinc and precious metal content. "In view of their relatively close spatial distribution, this acquisition could develop into a single mining operation comprising 11 ore bodies," Mr. Douglas noted. "When the agreement is formally completed, NEBEX will focus its exploration and development effort on expanding the copper, zinc, gold and silver reserve base." The four deposits currently in production are operating at a combined rate of less than 500 tons per day. One undeveloped deposit is reported to contain 11 million tons grading 1.5% copper and 1.5 grams gold/tonne. A significant zinc content was not assessed by the Albanian authorities and the deposit is open to depth. (Courtesy of PRNewswire)

    [3] Tirana Seminar Discusses Legal Defense

    TIRANA, April 10 - Experts from Germany, Britain and Italy are sharing their expertise with Albanian lawyers in a seminar on legal defense matters. Participants pointed to a 25 year-long gap under the former communist regime during which Albania had no defense attorneys as a serious challenge for establishing a genuine legal defense system. The Tirana seminar is organised by a European Council program and is aimed at offering legal rules and practices to the Albanian lawyers. The two-day seminar ends Thursday. (Albanian Times)

    [4] Albania Rehabilitates Power Stations

    Albania's hydro power system is going through a gradual rehabilitation process supported by the Swiss and Austrian governments. Two credits have been provided by the European Bank for Reconstruction and Development and the Japanese fund OECF. The $60 million project began 9 months ago and will replace outdated equipments. French experts are providing advice to the ongoing project. Hydro-power stations are Albania's main energy source. (Albanian Times)


    The material was reprinted with permission of AlbAmerica Trade & Consulting

    International. For more information on ATCI and the Albanian Times, please

    write to AlbaTimes@aol.com

    Copyright (c) ATCI, 1996

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