Coal mines generate losses

As I wrote before coal mines and coal plants are a big headache for Bosnian economy. Despite those facts Bosnian political decision makers continue to pump tax payers money into those economically and environmentally devastating fields.

Recently published facts show that eight mines (Kreka, Banovići, Đurđevik, Kakanj, Breza, Zenica, Bila i Gračanica) are 11,1 million KM (ca 5.5 million €) in minus.

At the same time those mines haven't payed health insurance and retirement fees for 12.600 miners to an equivalent of 170 million KM (85 million €). They owe their suppliers 48 million KM (24 million €) while 123 million KM (61,5 million €) of taxes are yet to be paid.

The combined loss of those eight mines reaches 352,1 million KM (176,05 million €) which clearly speaks for closure of those coal mines and investment of all that tax payer's money into something more lucrative, such as alternative energy, road and rail-road infrastructure or educational programs for all those unemployed who can't get any work due to lack of vocational training or poor education.