According to information posted on the Warsaw Stock Exchange website, the coal company Coal Energy S.A., based in Luxembourg and with major assets in Ukraine that are under Russian control, signed a letter of intent with the Polish mining company Siltech in April of this year. This document pertains to the lease of Siltech’s real estate and infrastructure for coal extraction in Poland.
This is reported by Finway
Purpose of the Agreement
The primary purpose of the signed letter is to implement Coal Energy’s plan to apply for a license to extract coal from deposits adjacent to Siltech’s assets. It is noted that the start of the lease is scheduled for the end of 2025, after Coal Energy receives all necessary permits to commence coal extraction from the licensed deposits.
Infrastructure and Company Shares
It is known that Coal Energy plans to utilize the existing mining infrastructure owned by Siltech for continuous coal extraction. Coal Energy’s shares have been listed on the Warsaw Stock Exchange since August 8, 2011, and its main focus has been on coal extraction from two underground mines and processing coal dumps in the Donetsk region.
“The primary purpose of this letter of intent is to advance Coal Energy’s plan to apply for a license to extract coal from deposits adjacent to those owned by Siltech”