Ukrainian Coal Energy updates development strategy for 2025-2027, adds Romania to it

Coal company Coal Energy S.A. (Luxembourg), with its main assets in Ukraine, which were under Russian occupation, plans to develop mining not only in Poland but also in Romania in 2025-2027, as well as provide mining services in these countries.

According to the updated strategy published on the Warsaw Stock Exchange, the coal mining project in Poland is focused on the Bobrek-Miechowice deposit, in particular, in its western part, the procedure for obtaining a license will be carried out in several stages.

As for Romania, Coal Energy sees significant potential in extracting anthracite coal, which has the highest pure carbon content. The company added that a draft framework proposal for cooperation in the mining sector has already been submitted for consideration in this country. Coal Energy also plans to participate in the official tender procedure to obtain a mining or exploration concession.

Regarding Ukraine, the company also sees potential for mining operations within the territory covered by the obtained license.

"In this regard, efforts are being made to create a joint project in cooperation with potential partners," the company added.

In addition, Coal Energy will provide consulting services to third parties in the field of mineral resources extraction. The services will include asset valuation, asset due diligence, interaction with strategic partners, and sale and purchase of assets on behalf of the client.

"The services will be provided by a separate subsidiary that will offer them worldwide. The issuer has entered into a cooperation agreement on the first project in this area with the owner of a polymetallic ore deposit in the United States," the company noted.

As previously mentioned, Coal Energy incurred a net loss of $2.13 million in 2024, which is 6.4 times less than the previous year. Last year, the company's revenue increased threefold to $2.47 million, and its gross profit amounted to $0.79 million, compared to a gross loss of $0.14 million in 2023.