Prairie Mining Ltd (ASX/LSE/WSE: PDZ) Arrangements for the reactivation of Dębieńska in a few weeks

photo: Kajetan Berezowski

The Dębieńsko mine in Czerwionka-Leszczyny was mining until 2000.

We are currently having one meeting with Prairie Mining, during which we started a dialogue on potential cooperation regarding the Dębieńsko mine – said Daniel Ozon. As the president of Jastrzębska Spółka Węglowa added, the possible construction-restoration project of the mine has nothing to do with the planned increase in production from 15 to 18 million tons of coal.

The meeting concerned the reactivation plans for the Dębieńsko mine in Czerwionka-Leszczyn, which carried out mining until 2000. Then, in 2006, the plant was bought by the Czech company NWR, which had plans to reactivate the mine. The Czechs were granted a mining license for 50 years, according to which they were supposed to start mining until the end of 2018. NWR Karbonia (a subsidiary established by NWR to reactivate Dębieńska) bought it from Prairie Mining Limited in October 2016. The Australians applied a year ago for a change to the mining concession (it is a change in the date of commencement of mining), and the yielding of coal is partly based on the still existing closed mine infrastructure.

The launch of the mine in Czerwionka-Leszczyny is also interested in JSW.

– We have so far, after one meeting with Prairie Mining, during which we started a dialogue on potential cooperation regarding the Dębieńsko mine, but it is still too early to talk about it. We heard what assets Prairie Mining has and we learned the potential cooperation options offered to us by the owner. For now, too early to talk about whether we could buy the right to the deposit or jointly implement the project. If we manage to conduct conversations in the right direction, we should pass on the particulars in a few weeks – Daniel Ozon noted.

As JSW’s president added, the plans to reactivate the Dębieńsko mine have nothing to do with the planned increase in coal output from 15 to 18 million tonnes per year, which is mentioned in the company’s development strategy until 2030.

– It is organic growth, i.e. based on currently owned database of mines and resources, which does not provide for acquisition. If we were able to implement the project to launch the Dębieńsko mine, it would theoretically involve a modification of our strategy – added Ozon.

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Mr Benjamin Stoikovich – Chief Executive Officer of Prairie Mining Ltd will be presenting this Thursday 15th February, London, UK. Share Talk Investor Show: Booking Link Tickets are going fast.

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