Australians do not lose faith in Polish coal projects...

Australians do not lose faith in Polish coal projects

Australians do not lose faith in Polish coal projects - Publication: 27.07.2017 Updated: 27.07.2017, 19:44

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"Prairie Mining does not share the concern of the Ministry of the Environment and ensures that it will build two coal mines in Poland for over PLN 4 billion.

Critical voices on the part of government representatives and heads of Polish coal companies about Australian investments in our country have been heard in the lobby for several years. But now it is already the official position of the Ministry of the environment. Deputy Minister and chief geologist Mariusz Jędrysek in a letter to local government officials from Lubelszczyzna writes directly about the doubts about the prospects of the rapid construction of coal mines Jan Karski by PD Co, a stock company Prairie Mining.

Australians do not hide surprise. - Recent statements from the ministry representatives are of course disturbing. We are here to build mines and not fight officials, "says Ben Stoikovich, president of Prairie Mining, and warns:" In extreme scenarios there is the possibility of bringing the case to international tribunals and getting a great deal of compensation. "

Prairie plans to build two mines - Jan Karski in Lubelszczyzna and Dębieńsko in Silesia.

What was so worried about the environment department? First and foremost, Prairie's long work on the Lublin mine. Australians started exploration activities in this area in 2012 and so far have not yet applied for a mining license. They made only eight of the 23 research wells planned. "In addition, both the current research and the number of drilled boreholes do not significantly expand the knowledge and geological knowledge of the construction of the Lubelskie Coal Basin, because these deposits have long been documented," writes Jędrysek.

The investor explains that he has completed a sufficient number of wells. These works were necessary to convince the project of foreign investors. Prairie financially supports China Coal and British CD Capital. The investor also argues that he will be in time with the application for a mining license. Priority is given to obtaining this document only until April 2018.

- The ministry is accusing us of lengthy work on a license application for a mine in Lublin, while it prolongs the decision itself on our behalf. In Dębieńsk we are waiting for an update of the mining license from December 2016. Approval of the geological documentation for Jan Karski took seven months for officials, Stoikovich calculated.

Meanwhile, Jędrysek is also concerned about the fact that in the PD authorities What sit or sit: former chief geologist of the country, deputy minister of infrastructure, and former president of Bogdanka. Why is the concern of the Ministry? We did not receive a response from the ministry to this question.

Prairie declares that she is finishing work on the Jan Karski project impact report on the environment and details the financing of the investment with a Chinese partner. In December, he is due to submit a final feasibility study. - Today only private investors have the funds to build coal mines and this money is in the international markets to which we have access. I deeply believe that we will realize this project, "admits Stoikovich.

However, this is not controlled by the state-owned coal producers Bogdance and Jastrzębska Spółka Węglowa, who would like to explore the same terrain. ©?

Opinion

Jerzy Markowski, President of Silesian Coal, former deputy minister of economy

The law regulates whether an investor may be granted a mining license. Therefore, if the company meets all legal requirements, there should be no fear that officials will make a negative decision. The bigger problem I see in Poland is the reluctance of the public to invest in foreign capital, especially when it comes to mining projects. Meanwhile, in this industry the risk of foreign investors is high, because in the case of problems - unlike many factories - the mine can not be transferred to another country."