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New mines with Asian business partners Jastrzębska Spółka Węglowa is planning an acquisition of Prairie Mining’s majority shareholding. Prairie is the company owning coal deposits in Dębieńsko and Lublin Coal Basin. JSW hopes that the rest of the shares will be owned by partners from Asia (i.e. Indonesia, China). JSW is also holding talks with Chinese banks with regards to construction financing. New mines together with Asian business partners Construction of Dębieńsko and Jan Karski mines could increase JSW’s annual production volume by half by Jacek Madeja Jastrzębska Spółka Węglowa is planning to take over Prairie Mining’s majority shareholding. Prairie is the company owning coal deposits in Dębieńsko and Lublin Coal Basin. JSW hopes that the rest of the shares will be owned by partners from Asia (i.e. Indonesia, China). JSW is also holding talks with Chinese banks with regards to construction financing. JSW has been talking with Prairie for over a few months already. Two projects which JSW is interested in are owned by this Australian company, Two projects, one goal ‘The first [goal] is to build a coal mine in Dębieńsko. This project is also a part of “Program for Silesia”. The second project belonging to Prairie is Jan Karski mine in Lublin Coal Deposit. We have already conducted technical audits of both projects. Preliminary audits confirmed that both concession areas contain coking coal. In Lublin Coal Deposit it’s semi-soft coking coal, whereas in Dębieńsko it’s hard coking coal. We have a good knowledge of Dębieńsko’s coal as this deposit is neighboring with our concessions in Szczygłowice and Budryk,’ Daniel Ozon, JSW’s CEO, emphasized. Thanks to close location it will be possible to reach Dębieńsko’s deposit much faster. Prairie Mining wanted to drill shafts to mine the coal. JSW could, at least in the first stage, do it much faster by using Szczygłowice mine’s underground infrastructure. ‘This way we could theoretically start the production in Dębieńsko in the next year. We could reach the wall and cut it and start the production using Sczygłowice’s infrastructure. These are the changes we would have to implement to concession documentation and deposit development plan. In the end, there will be an independent shaft in Dębieńsko, and as a result, a new mine,’ JSW’s CEO argues. That is why the next element of this jigsaw is Przedsiębiorstwo Budowy Szybów1 (“PBSz”) whose acquisition is currently being finalized by JSW. Thanks to this [acquisition] not only JSW can facilitate roadway works, but also concentrate on building new shafts, and as a result new Dębieńsko and Jan Karski mines. JSW does not intend to have PBSz conduct the construction on its own but in cooperation with other companies. Cooperation would not limit to technical support only, but also include participation in financing the whole undertaking. Chinese market as a financing source ‘We have sent our team to China again, along with PBSz representatives. We will have meet
Could you give us a link for this please ? There are some interesting new things mentioned here.
Przedsiębiorstwo Budowy Szybów1 translates as Shaft Construction Undertaking 1, which sounds like a logical acquisition for JSW given their interest in developing new projects.