Following a detailed technical review, the board of New World Resources (NWR) has given the go-ahead for the Debiensko coking coal project in Poland.
NWR, one of central Europe's leading producers of hard coal and coke, holds a 50-year mining licence, granted in 2008, to extract coal from Debiensko. The mine is scheduled to come into production in 2017, and will incur capital costs of €50m (£44m) during the current year - one-eighth of the total projected spend.
The development of Debiensko is crucial to NWR as it develops its coking coal assets to exploit the projected growth in regional steel production. The project will add 190m tonnes of what is predominantly hard coking coal to NWR's reserves, while pushing up annual output by some 2m tonnes.
