Acquisition of a fully permitted, ‘mine ready’ project of significant global scale.
Transformational acquisition making Prairie’s entry in to the hard-coking coal sector, complementing Prairie’s advanced Jan Karski Mine, and creating a multi-project coal development company based in Poland to supply European industry.
As a brownfield development project, significant historical capital investment positions Debiensko to become a meaningful, near-term regional hard-coking coal producer strategically located in the steelmaking heartland of Europe where approximately 80% of current metallurgical coal usage is imported.
Debiensko already has a 50 year mining concession, established onsite facilities including rail, road and power infrastructure, comprehensive historical drilling data and all environmental consents.
Through the acquisition, Prairie acquired a highly experiences team of Polish mining specialists, including engineers, mine managers, mine planners, geologists, surveyors and environmental specialists that brings substantial synergies to expedite permitting and development of Prairie’s flagship Jan Karski Mine.
Moving rapidly, a Scoping Study for Debiensko has commences during 2015/16 confirms historical data indicating that Debiensko hosts a range of premium-quality hard-coking coals compared to internationally traded benchmark coking coals.
Jan Karski mine
Prairie Mining and China Coal signed a landmark Strategic Co-operation Agreement to advance the financing and construction of Prairie’s Jan Karksi Mine in Poland.
Under the terms of the agreement, China Coal signed a landmark Strategic Co-operation Agreement to advance the financing and construction of Prairie’s Jan Karski Mine in Poland.
China Coal is the second largest coal mining company in China and one of the world’s most advanced and prolific shaft sinking and total underground coal mine construction companies.
The strategic Co-operation Agreement demonstrates the increasing economic collaboration between Poland and China, following China’s proposed ‘One Belt, One Road’ development strategy and highlights Poland’s importance as a ‘One Belt Economy’ for accessing Key European markets.
Permitting process for the mining concession application continues.
Metallurgical coal continues to be classified by the European Commissions the third most economically important ‘critical raw material’ for the European economy.
Cash on hard as AUS$13.1 million and CD Capitals’s right to invest a further AUS$68 million as a strategic partner places Prairie in an excellent financial position to progress with its planned development activities at Debiensko and the Jan Karski Mine.
Read the article online at: https://www.worldcoal.com/mining/31012017/prairie-mining-provides-a-quarterly-update-on-its-mining-projects/
The U.S. Energy Information Administration has reported that while renewable resources will be the largest contributor to the growth in electricity generation through 2050, certain regions will still mainly use coal resources for electricity generation.