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Looting Africa
Magda Hassan Wrote:Steinmetz also comes up in these other DPF threads:

Hmmmm - so who hasn't been getting their cut?

From the Kosovo thread:

Quote:KOSOVO - Close to midnight on the hot summer day of June 8, the inhabitants of the town of Drenas, in Kosovo, were jolted out of their sleep by a huge explosion. "We thought NATO was bombing again, or that maybe it was an earthquake," a local journalist, Bekim Dobra, recalls. After the initial panic subsided, the residents discovered that no natural disaster had befallen the youngest and poorest country in Europe, nor was a new war suddenly engulfing the Balkans: The explosion had occurred in the nickel mine located only a kilometer from the town. According to the local media, one of the furnaces used to produce metal in the smelting plant nearby blew up, injuring a number of workers and damaging dozens of homes.

The local population knows that the entire complex, known as Ferronikeli - for the iron-nickel alloy it manufactures - is owned by foreign entities: by Cunico, a company owned by the Benny Steinmetz Group (BSG ) Resources, Ltd. firm, and International Mineral Resources (IMR ), which is owned by Alexander Mashkevich, a Kazakh Jew who also holds Israeli citizenship.


Riches in the earth

May 3, 2006, was a significant date for the tottering Kosovo economy. On that day, senior members of the local government joined United Nations officials and international and local businessmen at the headquarters of the UN Interim Administration Mission in Kosovo (UNMIK ) to celebrate the successful conclusion of the biggest privatization deal signed since the end of the war with Serbia: In return for a payment of 33 million euros, ownership of the nickel mines complex in Drenas was initially transferred to IMR / Alferon, a firm co-owned by the businessmen Alexander Mashkevich, Patokh Chadiev and Alijan Ibragimov. Under the terms of the purchase agreement, the company undertook to invest 20 million euro in the first three years and to employ at least 1,000 workers.

The prime minister of Kosovo, Agim Ceku, stated at the ceremony, according to a report on the website of Eciks Economic Initiative for Kosovo (an organization supporting economic development and foreign investment ), that "the government welcomes the signing of this contract." He added, "This is the beginning of the revival not only of Ferronikeli, but of all of Kosovo's economy. It is the beginning of a significant reduction of unemployment. I expect the investors to meet the obligations of this contract, and they will have the government's support."

That ceremony marked the conclusion of a year-long privatization saga. Initially, a different company had been chosen to buy the mine, the American-Albanian firm of Adi Nikel, which offered about 50 million euros for the Drenas complex. However, the body in charge of privatization in Kosovo, KTA, reversed its decision, claiming the company originally chosen was financially unstable. Instead, the offer made by Alferon was accepted.

Former employees of the mine demonstrated against the new decision, which they alleged was politically motivated; sources at Adi Nikel hinted at corruption in the decision-making process. The Eciks organization quoted a memo by Adi Nikel spokesman Muhamet Jaku to the effect that Kosovo Minister of Industry Bujar Dugolli had asked for 3 million euros as a condition to win the Ferronikeli tender - a million euros each for Dugolli himself, for the prime minister at the time, Bajram Kosumi, and for their political party. "This is just slander," Dugolli retorted.

Ultimately, the mining and smelting complex went to Cunico, which is half owned by Mashkevich and his associates at IMR, and half by BSG Resources, Ltd., which is fully owned by BSG.

Even though BSG bears the name of the Israeli tycoon Benny Steinmetz, he is not listed as its owner. Over the years his spokespersons have consistently emphasized that he is not involved in the decision-making.

In regard to this article, too, a spokesman reiterated that Steinmetz is not the group's owner and does not control it, so he should not be connected to events at the Kosovo mine (see box ). Nevertheless, BSG's website states that "the business activities ... are managed by various entities owned (directly or indirectly ) by the Balda and Vessna Foundations, of which Benny Steinmetz and his issue are members of the class of beneficiaries."

Indeed, financial newspapers and the business world treat the group as a corporation that is controlled by Steinmetz, and based on its market capitalization, he is considered one of the world's wealthiest people.

Cunico, one of the corporation's assets, is, according to its website, "an international mining and metals company, specializing in the exploration, mining and manufacture of ferronickel. We are the largest ferronickel manufacturer in Europe and the fourth largest in the world." The company's headquarters are in Holland; its marketing unit operates out of Dubai.
"It means this War was never political at all, the politics was all theatre, all just to keep the people distracted...."
"Proverbs for Paranoids 4: You hide, They seek."
"They are in Love. Fuck the War."

Gravity's Rainbow, Thomas Pynchon

"Ccollanan Pachacamac ricuy auccacunac yahuarniy hichascancuta."
The last words of the last Inka, Tupac Amaru, led to the gallows by men of god & dogs of war

Messages In This Thread
Looting Africa - by Jan Klimkowski - 16-04-2013, 10:04 PM
Looting Africa - by David Guyatt - 17-04-2013, 09:34 AM
Looting Africa - by Jan Klimkowski - 17-04-2013, 07:03 PM
Looting Africa - by Magda Hassan - 30-08-2013, 01:16 PM
Looting Africa - by Magda Hassan - 30-08-2013, 01:21 PM
Looting Africa - by Jan Klimkowski - 30-08-2013, 05:38 PM

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