Such a high yield in the third quarter was a result of launching, in September this year, of the new Mechanical Coal Processing Plant which is at the stage of a start-up.
The reasons for the Company’s repeated application include public interest, incorrect application of the provisions of the geological and mining law with respect to the licence by the licensing authority, and the fact that conducting exploratory works in an already explored area (to an extent sufficient for launching the mining), is groundless and delays the already possible mining in this area, which constitutes activity against economic interest of the State Treasury.
Bogdanka is to request the ministry of environment to reconsider its application for the K-6-7 area mining licence
Lubelski Węgiel BOGDANKA S.A., the most modern and effective hard coal mine in Poland, announces that it intends to promptly apply for reconsideration of its application for the mining licence for the K-6-7 area; LW BOGDANKA has recently received information of a negative response to the application.
EBITDA for that period amounted to PLN 304.3 million, EBIT reached PLN 126.7 million and the net profit exceeded PLN 91.4 million. Despite challenging market situation and results being under the pressure of coal price drops, the Company’s profitability ratios remain at a level higher than the average recorded in the industry.
Mining licence for K-3 area and exploration licence for the Ostrów deposit granted to LW Bogdanka S.A.
Lubelski Węgiel BOGDANKA S.A., the most modern and effective hard coal mine in Poland, as well as the domestic leader on the power coal producers market, obtained the K-3 area mining licence and the Ostrów deposit exploration licence.