September 27, 2019
$ 5.2 million investment opens Klos’s Traverbank, Albchrome Company realizes project launched 34 years ago

A major investment of AlbChrome, worth $ 5.2 million in the the Traverbank of Klos, linking this area to that of the chrome mine in Bulqiza. This project was finally accomplished after 34 years.

Traverbank began to be built in communist times, to be left in limbo to this day due to lack of funds. This is the next commitment Balfin Group has made in recent months to the vital chrome ore sector.

This investment, along with all the other commitments made since 2013, makes the total value of AlbChrome’s investments in Albania’s mining sector reach $ 55.6 million. Investments like that of Traverbank help extend the longevity of level no. 5 of the Bulqiza mine, providing many more years of consistent work in it.

Its construction began in 1985 by the state-owned Mining Construction Company and by 1996 it had opened 5.4 km. in 1996 the work was halted because of the lack of funds from investors until 2013, when Balfin Group took over management of the mine and Traverbank, with its company, AlbChrome, planned to restart the work in Traverbank 1 to connect it to level no.5 of the mine.

How Traverbank’s opening was made possible

The situation in which this sector had been left by previous companies that had only intended blind exploitation for profit was deplorable. But that would all change with the vision of well-known businessman Samir Mane, who owns AlbChrome through the Balfin Group.

The Klos Traverbank was designed by the Mining Design Institute in 1985 for the connection of the Bulqiza Chromium Mining Transport with its fifth level at +420 m with the Klos Selection Plant and through it, transport of ore and sterile to be selected at the plant and prepared for transport to the Port of Durrës by rail. The Traverbank would enable the self-discharge of groundwater from level five to Klos and would serve as a project that increased mine safety from flooding.

The remaining 1875m of Traverbank 1 had great technical-mining difficulties as the work would further the Vajkal valley, which was known for poor waterway formations, above normal aquifer values. The completion of this investment ensures the continuity of work in well no. 3 and increase the security of operation of this well, to serve the reserves that have been opened by Albchrome’s other major investment with the construction of Well no. 9, the biggest investment of our kind our country.