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Lubelski Węgiel
Lubelski Węgiel Bogdanka S.A.

LW BOGDANKA S.A. extracts 2.11 million tonnes of coal in the fourth quarter and 8.35 million tonnes in the entire 2013

Friday, 2014-01-10

PRESS RELEASE

 

LW BOGDANKA S.A. extracts 2.11 million tonnes of coal in the fourth quarter and 8.35 million tonnes in the entire 2013

 

Lubelski Węgiel Bogdanka S.A., the most advanced and effective hard coal mine in Poland and the leader in the domestic market for power coal producers, extracted 2.11 million tonnes of coal in the fourth quarter of 2013. This exceeds the result achieved in the same period last year by 23.4%, and is comparable to the result achieved in the third quarter of 2013 (2.16 million tonnes).Total extraction in 2013 amounted to 8.35 million tonnes, which gives an increase by approx. 7.3% compared to the extraction level achieved in 2012.

The Company is focused on implementing its strategy for 2013-2020 announced in June 2013, whose key assumptions include completion by 2015 of the investment programme with a view to doubling the extraction compared to 2011 and two-fold increase of the Company’s operating resources in the Lublin Coal Basin, and thus extension of the mine’s operating life to around 2050.

Zbigniew Stopa, President of the Management Board of LW Bogdanka S.A.: “In accordance with earlier declarations, the extraction in the fourth quarter was slightly lower than we had expected due to worse geotechnical conditions at one of the currently extracted walls (at the wall closing seam 382) and due to worse than expected deposit parameters (lower output quality) at the wall in Stefanów Field, launched in November last year.Nevertheless, it was a better quarter with respect to extraction than the fourth quarter of 2012.Also the extraction for the entire 2013 was higher than the one achieved in 2012, which confirms a consistent implementation of our strategy to double extraction as compared to 2011.”

 

For further information please contact

Magda Kołodziejczyk, M+G

tel.+48 22 416 01 02, + 48 501 16 88 07

e-mail: magda.kolodziejczyk@mplusg.com.pl

 

LW BOGDANKA – HIGHLIGHTS

Lubelski Węgiel Bogdanka S.A. is the most advanced and one of the largest hard coal mines in Poland and a leader of the domestic market for power coal producers.In 2013, production of Bogdanka’s commercial coal amounted to 8.35 million tonnes, compared to 7.78 million tonnes achieved in 2012.

LW BOGDANKA conducts primarily mining operations with respect to extraction, agglomeration and sale of hard coal.

First and foremost, BOGDANKA coal mine supplies industrial customers based in East and North-East Poland.Customer market is stable and sales are conducted mostly on the basis of long-term agreements.The major directions of sale of commercial coal from LW BOGDANKA are commercial and industrial power sectors.

The Company stands out in the industry with regard to its financial results, efficiency of hard coal extraction and investment plans.

For further information visit www.bogdanka.eu

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