AKTOR Group and the BNI Foundation have signed a framework agreement for an exclusive strategic partnership focused on the exploration, development, and exploitation of mineral resources in Albania.
Based on the agreement, the two parties will establish a joint venture under Albanian law, in which AKTOR Group, through its subsidiary AKTOR Metal, will hold a 51% stake, and BNI Foundation will hold 49% through its subsidiaries.
According to AKTOR Group, the joint venture will undertake the exploration, development, and exploitation of specific mineral resources, including nickel and rare earth deposits in the Bilisht area of Albania, with an estimated mineral potential exceeding 500,000 tons of nickel and over 25,000 tons of cobalt.
The agreement also provides for the development, construction, and operation of the necessary infrastructure, facilities, and processing units required for the mining and processing of these resources.
Investment Scope
BNI Foundation will contribute to the joint venture the relevant exploitation rights and permits for the mining project and related deposits, which it already holds.
The joint venture will be supported at all stages of its development by US-based companies, while the total investment—which will be determined gradually according to the progress of the project and its individual phases—is estimated to reach 1 billion euros at full development, with the majority of external financing expected to come from US capital.
“By combining their expertise and capabilities, the strategic partnership between AKTOR Group and the BNI Foundation is expected to fully leverage the potential of the mineral resources and support the development of a major mining project in the wider Southeastern European region,” the announcement stated.
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