"The power coal mining manufacture must lose weight by respective mines to extract coal at a lower unit price and according to demand," wrote the Instrat Foundation. Meanwhile, a coal company from Ukraine, Cola Energy, which was late listed on the Warsaw Stock Exchange, invested in Polish mining.
Poles close the mine. On Wednesday, September 17, Ukrainians from Coal Energy announced that they had signed with Global Tech Opportunities 31, which allowed them to issue peculiar bonds. The funds obtained in this way (PLN 14.5 million) intend to spend, among others, on the lease of a mine owned by the Polish company Siltech, operating the "Jadwiga" deposit.
Founded in France, but registered in the Cayman Islands, the Global Tech Opportunities 31 fund owned by ABO Securities undertook to supply backing for up to PLN 14.5 million of Coal Energy investment.
– With the funds obtained, we will be able to implement our plans to make projects in Poland and analyse another projects in the countries of Central and east Europe. “After announcing this transaction, chief of Coal Energy, Ukrainian Viktor Wisniowietzky said. He added that the technology utilized by his company ‘allows profitable mining in mines that were previously considered unprofitable’.
In the coming weeks, the company is expected to present a fresh improvement strategy. If the company signs a contract to lease Siltech's property, it seems that it will effort to look for coal in the theoretically exploited deposit, due to the fact that the Polish side considers it such.
– Jadwig's deposit inactive has operational potential, which is why it is the subject of detailed analysis – said Wisniowietzky in conversation with ‘Rzeczpospolita’. His company specializes in specified activities. In the past, Coal Energy has already resumed mining in the Donbas mines, which the Ukrainian state owner previously considered unprofitable and closed.
But now the board of Coal Energy must make the most crucial decisions. He must first negociate a contract with Siltech. Jan Chojnacki had already explained that there is no legal anticipation to sale the mine – it can only sale or lease the infrastructure, or property on the surface. The buyer will then gotta apply for a concession and indicate which 1 I will specifically submit to ‘fedre’.
Given that the Polish government is trying to liquidate the mining manufacture and closes the mines, and the simplification in mining was included in the National Energy and Climate Plan, developed in accordance with the Euro-communist Green Deal, Coal Energy's plans are surprising. No little suspicious is the fact that she has acquired capital for the coal sector, which is censored throughout the European Union. Financial institutions have an informal ban on financing coal investments.
The National Energy and Climate Plan, developed and implemented by the governments of COPIS, is intended to lead to the physical liquidation of Polish mining and the transition to renewable sources, which are to be the main energy supplier in the country. To this end, coal mining is subject to, among another things, horrendous taxes related to CO2 to claim that it is unprofitable.
‘It's a signal that coal mining in our country can be made, so the government should wake up and halt the mine decommissioning.“, commented on the Coal Energy case, PiS MP Janusz Kowalski, trying to hit the Donald Tusk government. However, he forgot that mines were besides closed in the times of the Law and Prime Minister Mateusz Morawiecki signed the Green Deal.
OUR COMMENTS: Who knows, possibly the Ukrainians will actually be paid to extract Polish coal from "unprofitable" deposits. All you gotta do is take out the bureaucratic and taxation humps and abruptly the profits can go up.
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