Czechs try to revive Morcinek coke coal mine back to life

opublikowano: 07-02-2007, 09:25

Warsaw (Puls Biznesu) – Czech OKD coal group eyes coke coal fields in the closed mine Morcinek. The offer has already been submitted to the Ministry of Economy.

Warsaw (Puls Biznesu) – Czech OKD coal group eyes coke coal fields in the closed mine Morcinek. The offer has already been submitted to the Ministry of Economy.

 

Morcinek mine located at the Polish-Czech border belonged to JSW coal group. Several years ago the government decided to close it. In 1997 it had PLN 88.2m (EUR 22.8m) of net loss. Experts believed there would be no demand for coke coal. They were wrong. Several days ago, a letter came to the Ministry of Economy from Czech OKD concerning a meeting to discuss potential cooperation with JSW in the exploration of Morcinek mine.

“The offer is very interesting. We hope there will be meeting and all aspects and opportunities of a common project will be discussed. Especially that coke coal is scarce in the world while the whole steel industry is based on it”, Daniel Ozon, JSW deputy CEO said.

 

Morcinek has 261m tons of coal reserves. An average mine explores 2m tons of coal annually. The construction of the Polish mine started in 1978. The mine never reached full capacity because there were not enough funds to end the construction works - in 1996 the needs were estimated at PLN 250-300m.

“If an investor appears and he is ready to cover the costs of launching the mine, we should let him do it. The demand for coke coal will persist in upcoming years”, Janusz Olszowski, the CEO of the Miners’ Chamber of Industry and Trade commented.

(PLN 1 = EUR 0.258)

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