MINEX Forum

Tag: Rudnik Uglja

  • Montenegro’s Rudnik Uglja Swings to €6.9 Million Loss as Eight-Month Power Plant Closure Halves Coal Deliveries

    Montenegro’s Rudnik Uglja Swings to €6.9 Million Loss as Eight-Month Power Plant Closure Halves Coal Deliveries

    Montenegro’s state-owned coal mining company Rudnik Uglja recorded a net loss of €6.9 million in 2025, reversing a €15 million net profit the previous year, after the extended closure of the country’s sole thermal power plant slashed demand for its output by more than half.

    TE Pljevlja, which is Rudnik Uglja’s principal customer and the only coal-fired power station in Montenegro, was taken offline between April and December 2025 for a major ecological overhaul costing approximately €70 million. The shutdown caused Rudnik Uglja’s deliveries to the plant to fall to 561,000 tonnes, a reduction of 849,000 tonnes compared to 2024, and sent net sales revenue plummeting to €32 million from €65 million the prior year.

    Total coal mined in 2025 reached 733,000 tonnes — 27% below the company’s production plan and 55% lower than 2024 output. After supplying TE Pljevlja, the remaining volume was sold to other buyers in Montenegro and the wider region. Operating expenses held broadly flat at €29.7 million against €29.6 million in 2024, while staff costs fell to €24.4 million from €26.3 million. The company swung to an operating loss of €7.5 million from an €18 million operating profit in 2024.

    Both Rudnik Uglja and TE Pljevlja are owned by state power utility Elektroprivreda Crne Gore. The thermal plant returned to trial operations in December 2025 and is expected to resume normal output by mid-2026, which should restore coal demand to more typical levels in the current financial year.

  • Rudnik Uglja Announces EUR 2.5 Million Tender for Excavator and Dumper Purchase

    Rudnik Uglja Announces EUR 2.5 Million Tender for Excavator and Dumper Purchase

    Rudnik Uglja (RUP) has announced a tender for the procurement of one excavator and one dumper, with a total value of EUR 2.5 million, including EUR 523,000 in VAT. The tender is divided into two lots: EUR 1.2 million allocated for the excavator and EUR 1.3 million for the dumper.

    According to the tender terms, Rudnik Uglja will make an advance payment of 20% of the contracted value for the dumper within seven days of signing the contract, with the remaining amount to be paid in six equal monthly installments. The first installment is due 30 days after delivery of the excavator and the mutual signing of the Record of Handover, with subsequent payments to follow every 30 days until the full price is paid.

    For the dumper, the company will also pay 20% of the agreed value within five days of the contract date, with the remaining balance to be paid in six equal monthly installments. The first installment will be due 30 days after delivery of the dumper and mutual signing of the handover record, followed by payments at 30-day intervals.

    Bidders are required to submit a statement with their bid confirming that they will provide a warranty card and the manufacturer’s quality certificate upon delivery of the excavator and dumper. Additionally, the bidder must ensure that spare parts and service for the equipment will be available for a minimum of 10 years after the warranty period expires, as stipulated in the tender documents.

  • Montenegro’s Rudnik Uglja net profit rises in H1

    Montenegro’s Rudnik Uglja net profit rises in H1

    August 1 (SeeNews) – Montenegro’s coal mining company Rudnik Uglja [MNG:RUPV] said on Friday that its net profit soared to 1.1 million euro ($1.2 million) in the first half of 2023 from 53,770 euro in the like period of last year.

    Rudnik Uglja’s revenue rose to 26.9 million euro from 20.5 million euro, while operating costs grew 19.5% to 14.1 million euro, Rudnik Uglja said in an interim financial statement filed with the Montenegro Stock Exchange on Monday.

    Following are details of Rudnik Uglja’s financial performance (in millions of euro):

    H1 ’23 H1 ’22
    Operating costs 14.109 11.787
    Revenue 26.857 20.472
    Net profit 1.130 0.530

    $ = 0.9112 euro