The Mariola Project is located near the town of Katowice in southern Poland and lies in the heart of the Upper Silesian region – one of the largest coal-producing regions in Europe, where most Polish thermal power stations are strategically located to take advantage of nearby coal deposits.
Carbon Investment Ltd, one of Balamara’s Polish subsidiaries, is planning to execute another thermal coal mine project in Poland. On July 3rd 2015, the Company was granted an exploration concession for the coal deposits in the area “Jan Kanty Szczakowa”, which is located in the city of Jaworzno, in the Silesian Voivodeship.
Our Projects can substantially assist the Polish economy, with a significant amount of labour required as our Projects near production. We are grateful to be in a market with a number of local residents having significant experience and expertise in the coal mining Industry. The human factor is essential for the Projects.Derek Lenartowicz
We are making significant progress on all three of our Polish coal projects, adding substantial value and working with one of the most capable and experienced technical coal consultants in the world. The attractions of our Projects are high quality coal, its easy mining and its low CAPEX that means we can fund it and get into productionMike Ralston
3 POLISH PROJECTS TOTAL TONNAGE (Mt)
3 POLISH PROJECTS TOTAL AREA (KM2)
Balamara’s primary objective is to deliver long-term shareholder value by rapidly becoming a mid-tier resource company. The Company strives to achieve this through the discovery, acquisition and development of new economic mineral deposits. Balamara seeks to divest its current non-core assets, and focus on its world class Tier One Projects such as Mariola (thermal coal), Nowa Ruda (coking coal) and Sawin (thermal coal) – Poland.
Poland is a central European country, bordered by Germany to the west, the Czech Republic and Slovakia to the south, Ukraine and Belarus to the east, and the Baltic Sea, Russia and Lithuania to the north. It is the largest hard coal producer in the European Union and is ranked the seventh in the world, producing ~72 Mtpa of hard coal annually. The Government of Poland estimates the countries’ coal resources of 48 billion tonnes (Bt), out of which coking coal resource is estimated to be 13 Bt. These coals are present within 146 identified coal deposits located mainly in the three coal basins: the Upper Silesian Basin, the Lower Silesian Basin and the Lublin Coal Basin.
Balamara has chosen Poland for its Projects implementation because of the following reasons:
- Low sovereign risk (EU member state & member of NATO)
- Politically stable democracy
- Well-defined mining laws
- Low Corporate tax rate (19%)
- Low operating costs
- Availability of skilled underground mining work force
- Excellent core infrastructure throughout Poland
- Close to large European market
- Power stations and coke plants near to Projects = high demand for quality coal
- Strong expanding economy with significant inward investment