Australia's Prairie Downs to launch coal mine construction in Poland
April 15, 2014
PD Co., a unit of Australian miner Prairie Downs Metals Limited (PDML), wants to launch construction of a coal mine in the Lubelskie region in eastern Poland in an investment worth ca. PLN 3 billion in its initial stage, PDML director general Ben Stoikovich said during a press conference on Monday.
"Our goal is to launch the investment by near the end of 2016," Stokovich said.
The Australian miner will operate near WSE-listed coal miner Bogdanka located in the eastern town of Puchaczow
The mine is expected to employ 2,000 people.
PDML received four permits for coal exploration on land plots encompassing 184 square kilometers back in 2012. In 2013 the firm conducted four exploratory drillings and wants to conduct three more this year. Coal deposits at permits held by PD Co. are estimated at 1.6 billion tons.
Coal production could be launched in 2021 or 2022 if PD Co. received an extraction permit in 2016, PD Co. president Janusz Jakimowicz said during the conference. PD Co. plans to extract 7-10 million tons annually for at least 25 years.