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JSW coking coal works on Prairie Mining asset valuation, further decisions likely in mid-Sept. - CEO

Listed coking coal miner JSW is working on the asset valuation of peer Prairie Mining and expects to announce its further decisions on the subject in mid-September, CEO Daniel Ozon told reporters.


"The legal audits are being finalized and, together with advisors, we are working on asset valuation," Ozon said, adding that the completed technical audits of the projects Debiensko and Jan Karski showed that both these projects meet JSW's expectations as to the quality of coal.

"We will be informing of further steps likely in mid-September," Ozon also said.

In July Ozon said JSW expected to make a decision on possible cooperation with Prairie Mining or purchase of Prairie assets by the end of August.

In early June Ozon told PAP JSW is in talks with Prairie Mining regarding potential investment in Prairie assets. JSW's options include taking over Prairie Mining as a whole, or particular assets, because mining licenses belong to subsidiaries, not the firm itself, he said at the time.