Company Announcements
General contractor and pre-construction activities
September 2014
Based on updated in January, 2014 version of BFS general contractor of Lubelska Coal Project - China Coal Mine Construction Corp (CCMC) and Hefei project institute are developing an adaptation of BFS according to terms and rules of potential international creditors; Term of construction, according to CCMC, will not exceed 38 months, planned start of operations – 1st quarter of 2019 The Company is continuing the preprational works for construction commencement and is in the process of new boreholes drilling for further reclassification of resources to a higher class (C2 to C1). Current year budget includes costs for 6 boreholes drilling (5700m), as of September 2014 – 3 boreholes were successfully drilled (2800m) with core recovery >95%