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Possible co-operation between Prairie Mining & JSW

Coal News - Published on Tue, 16 Oct 2018

Image Source: BiznesAlert EN
Discussions remain ongoing between Prairie Mining Limited and Jastrzebska Spotka Wglowa SA regarding potential co-operation and/ or transaction options in respect of Prairie's Polish coal projects, following the exchange of technical information during the last six months. The Due Diligence process at the Jan Karski project has confirmed that part of the “Lublin" deposit contains semi-soft coking coal (type 34), which can be potentially utilised by JSW. Due Diligence has also indicated the technical feasibility and potential synergies of accessing initial seams at the D’biehsko deposit utilising the existing infrastructure at JSW's adjacent Knurow-Szczygtowice mine. Exploiting those synergies would require modifications to project configuration and obtaining relevant approvals, including concession modifications. JSW estimates that access via the Szczygtowice mine potentially enables the production of hard coking coal (type 35) from D’biehsko in up to 18 months from the time that relevant administrative permits and concession amendments are granted. There can be no certainty as to whether any transaction(s) or co-operation will be agreed, or the potential form of such transaction(s) or co-operation.

It is emphasised that any potential transaction(s), should they occur, may be subject to a number of conditions including, but not limited to, obtaining necessary corporate approvals, consents and approvals related to funding, consents from Poland's Office of Competition and Consumer Protection (UOKiK) if required, and any other requirements that may relate to the strategy, objectives and regulatory regimes applicable to the respective issuers.
The companies will continue to comply with their respective disclosure obligations to the relevant markets, as required.

Source :

Posted By : Rabi Wangkhem on Tue, 16 Oct 2018
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