Locked content Poland to start mining in the Atlantic in the next 10 years

Poland will be able to start mining potential resources at the bottom of the Atlantic Ocean within the next 10 years, chief geologist Mariusz Orion Jędrysek said. “Polish parcel at the bottom of the Atlantic has huge geological resources. There are only seven countries in the world with such parcels...

Locked content Bogdanka buys back PLN 300 worth of bonds, before their maturity

Mining firm Bogdanka has signed an annex to its bond buyout program and will buy back bonds worth PLN 300 million before they have matured by the end of March, the company stated. Originally, the bonds were to mature on June 30, 3017. The bond program was established in 2014 and included two tranche...

Locked content Polish president offers sympathy for copper mine victims

Speaking to reporters from Sweden, where he is on an official three-day visit, President Andrzej Duda on Wednesday expressed his condolences to the families of miners who died after an earth tremor caused rockfalls deep underneath the surface at Rudna copper mine in southwestern Poland. The Presiden...

Locked content New agreement between Famur, Kopex and Tauron

Mining machinery producers Famur and Kopex in consortium filed best bid of PLN 72.4 million for providing a high-performance longwall system for power group Tauron, the companies announced in a market filing. The consortium expects to deliver the longwall system by the end of 2016, a statement said....
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State-owned utilities to finance PGG coal group

On Tuesday, coal group PGG signed an agreement with the largest coal company in Poland and Europe – Kompania Węglowa (KW). The agreement was the last stepping stone needed for PGG to start its operations. It will be funded by state-controlled utilities.

Locked content Bumech will mine bauxite in Montenegro during 29 years

A consortium led by  WSE-listed Bumech and Grottech has inked a deal with Uniprom Metali for bauxite mining in Nikšić, Montenegro. The value of the contract amounts to €250 million (approximately PLN 1.1 billion). The agreement was agreed for a period of 29 years and  can not be terminated until Bum...

Locked content Banks may convert PLN 500 mln of KW coal mine debt into equity

“Banks could convert up to PLN 0.5 billion in coal mine KW debt into equity,” said deputy Energy Minister Grzegorz Tobiszowski. According to the minister, the conversion would affect a third of KW’s debt versus banks, including BZ WBK, BNP Paribas, PKO BP, BGK and Alior. “Tal...

Locked content Famur lands deal worth over €18 mln

Polish producer of mining equipment, Grupa Famur has signed a contract with its Russian partner OOO Polskie Maszyny to deliver equipment to OAO Kyrgayska mine in Russia, the media informed. The delivery is scheduled for the first half of 2016. The value of the deal amounts to €18.7 million. In line ...

Locked content Enea takes over KHW

State-controlled power utility Enea will take over ailing mine Katowicki Holding Węglowy (KHW), according to Polish daily Rzeczpospolita. The newspaper reported that Enea’s involvment in KHW was a condition attached by the State Treasury when it agreed for the company to take over LW Bogdanka ...