The coal mine and thermal power plant (RiTE) Ugljevik is experiencing a substantial financial downturn at the onset of 2026, primarily due to severe operational disruptions. In the first quarter, the company reported a loss of 18.3 million euros, which is approximately 4 million euros more than its total losses for the entire year of 2025. This dramatic increase underscores the severity of the situation.
A major factor contributing to this financial decline has been a collapse in revenue. The plant’s income plummeted from 18.8 million euros during the same period last year to a mere 2.2 million euros this year, while overall expenses remained relatively stable at over 20 million euros.
Management has attributed these losses to a suspension of both electricity and coal production that commenced early in the year. The halt was primarily due to an insufficient coal supply, which stemmed from delays in overburden removal and development activities at the Ugljevik Istok open-pit mine. These operational challenges have prevented the facility from maintaining normal operations, directly impacting its financial health.
As one of the principal power producers in the Republic of Srpska (RS), RiTE Ugljevik has been offline since January 12 but has recently resumed operations. This restart is seen as a critical step toward stabilizing output following weeks of disruptions.
In response to these challenges, RS authorities are implementing measures aimed at ensuring the long-term viability of the facility. The government has acquired Comsar Energy RS along with its concession for the Ugljevik Istok 2 mining site for over 120 million euros. This acquisition is anticipated to provide a new resource base for recovery and future operations, thereby supporting the long-term stability of RiTE Ugljevik.
