MINEX Forum

Tag: Coal Energy

  • Coal Energy Plans Expansion into Poland and Romania with New Mining Strategy

    Coal Energy Plans Expansion into Poland and Romania with New Mining Strategy

    Coal Energy S.A. (Luxembourg), a company with its core coal assets in Ukraine, has announced plans to expand operations into Poland and Romania as part of its 2025–2027 development strategy. According to the updated plan, published on the Warsaw Stock Exchange, the company aims to diversify its portfolio and increase resilience amid ongoing challenges in Ukraine.

    In Poland, Coal Energy intends to develop the Bobrek-Miechowice deposit, focusing on its western section, with a multi-stage licensing procedure already underway. Romania is also a key target, where the company sees significant potential for anthracite extraction. A draft framework proposal for cooperation in the mining sector has already been submitted to Romanian authorities, and the company expects to take part in official tenders for mining or exploration concessions.

    Despite difficulties in Ukraine, Coal Energy highlighted ongoing potential for mining projects in its licensed territories. The company is also exploring joint ventures with local and international partners.

    Additionally, Coal Energy is launching a subsidiary to provide global consulting services in the field of mineral resources. These services will cover asset valuation, due diligence, partner engagement, and asset transactions. Its first project in this area involves cooperation with the owner of a polymetallic ore deposit in the United States.

    Financially, Coal Energy reported a net loss of $2.13 million in 2024, marking a six-fold improvement compared to the previous year. Revenue nearly tripled to $2.47 million, while gross profit reached $0.79 million, reversing a gross loss of $0.14 million in 2023.

  • Coal Energy Eyes Polish and Romanian Mines for Revival Despite Phase-Out Plans

    Coal Energy Eyes Polish and Romanian Mines for Revival Despite Phase-Out Plans

    Coal Energy, a Ukrainian-rooted company listed on the Warsaw Stock Exchange, has announced plans to restart coal mining operations in Poland and Romania—specifically targeting previously closed or unprofitable mines. The firm, which once managed 10 coal mines in Ukraine’s Donbas region before losing control of them due to the Russian invasion, now aims to leverage its turnaround experience to breathe new life into dormant European sites.

    One of the company’s main targets is the Siltech mine in Zabrze, Poland, slated for closure at the end of 2025. Despite Poland’s national plan to phase out coal by 2049, Coal Energy sees strategic value in resuming operations at the mine, especially to supply coal back to Ukraine. The firm plans to utilize cost-effective mining technologies to make the project economically viable.

    To fund the endeavor, Coal Energy is looking to raise over PLN 14.5 million (approximately $3.76 million) through the issuance of convertible bonds and warrants aimed at private investors. Alongside coal, the company is also exploring opportunities to mine other critical raw materials, including kaolin, phosphorite, feldspar, sulfur, and limestone.

    Though based in Luxembourg, Coal Energy’s long-standing operational history in Eastern Europe positions it as a potential player in reshaping parts of the region’s post-coal landscape—even amid tightening decarbonization timelines.