“We hope that the construction of the mine will begin in 2018.” – Kluczny said during a press conference. The schedule anticipates first production in 2022.
“Pre-feasibility study will help us now to talk with investors, the final recipients of our product, and finally with the banks financing the project. time give yourself plenty of it, because it will be the period from the second half of 2016. by the end of the first half of 2017. – and perhaps beyond “- said the vice president.
stressed that now the company meets the interest of different groups of investors and institutions, in particular the recipients offtake.
company has already started preparing a report on the assessment of the impact of investment on the environment and procedure for changing the local zoning plans.
“Both in the case of environmental impact assessment, as in the case of changes to local plans we give yourself enough time, to apply for a production license in the first quarter of 2017. ” – Kluczny added.
Prairie positively evaluates market opportunities for the construction of the mine
Company does not see threats to obtain financing for the construction of a mine within the Lublin Coal Project, does not see the situation on the coal market as a threat, officials said the company.
“We used estimates of the independent expert on the carbon market CRU. The company expects a strong rebound in coal prices over the next 5-6 years. So we expect the growth of the international prices of steam coal transported by sea to 75 USD / t in the ARA. The price of coking coal should return to well over $ 110 / t “- said the president of PML Benjamin Stoikovich during a press conference.
He added that the current low coal prices make that many mines are closed, which – while maintaining demand – could mean an opportunity for the mine, which is to be developed.
“Nam current market situation is absolutely not bother – do not produce coal, do not pay extra for each tonne of coal produced, we do not have to worry about reducing the cost of employment or the reduction in management costs “- said Artur Kluczny, vice president of PD Co – Polish subsidiary PML.
Kluczny recalled that already in September last year the situation on the coal market was difficult, and the PML acquired funding to 83 million AUD of CD Capital fund specializing in financing projects of raw materials. Financing of CD Capital allows you to fund all project work until the start of construction of the mine.
President PML stressed that obtaining financing for the next stages of the project, the company considers to be realistic.
“Some investors in the US and Europe have declared that they will not finance coal projects, but many investors in other parts of the world continue to see a future for coal and understand that in some regions – as in Poland, the Czech Republic, Germany – energy security and affordability still depends on coal “- pointed Stoikovich .
in his opinion, the demand for coal in the three countries remain at a level above 100 million tons per year in the next 5-6 years, whether in Germany, soon there will be mining, are also closed mines in the Czech Republic.
PML published today the preliminary feasibility study (Pre-feasibility study) Lublin Coal project, which confirms the life of the technical and solid economics of the project assuming CAPEX of 631.7 million USD, the average EBITDA of $ 348 million, the cost of cash 25 USD / t net production of 6.34 million tons / year.
Prairie Mining Limited is a eksploracyjno- mining implementing the project in the Lublin Coal Basin. The Company completed reconnaissance program, and geological documentation prepared by the company was approved by the Minister of the Environment. Thus Prairie received priority in applying for a production license. The company made its debut on the main market of the Warsaw Stock Exchange in September 2015.
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