In December 2019, the government of North Macedonia decided to unilaterally terminate the concession agreement with Euromax Resources, citing delays in the filing of the relevant permits.
Canadian-based mining company Euromax Resources said that its application for an exploitation permit for the Ilovica 6 concession at the Ilovica-Shtuka copper-gold project in North Macedonia has been rejected by the relevant state commission, contrary to a recent court ruling. The company will appeal the commission’s decision in the country’s administration courts and any further ruling by the Administration Court is enforceable under the law upon government institutions, it said in a statement. However, the country’s Higher Administrative Court ruled against this government’s decision last month. The ruling confirmed that the government has an obligation to consider first the merger of Euromax’ two exploitation concessions, Ilovica 6 and Ilovica 11, both of which are integral to the overall project, before terminating the permit, Euromax Resources said at the time. The project would create nearly 3,000 direct and indirect jobs, according to the company.
Source: seenews.com
