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Stanari coal mine

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The Stanari coal mine is an existing lignite mine located approximately 70 kilometres to the east of Banja Luka in Republika Srpska, Bosnia and Herzegovina. The mine is owned and operated by EFT Rudnik i Termoelektrana Stanari d.o.o., a subsidiary of the EFT Group.

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Background

In 2011 the mine produced over 900,000 tonnes of lignite.[1]

EFT states that proven lignite coal reserves at the Stanari basin are 108 million tons. EFT states that:[2]

"Excavation at the mine started in 1948 and the destiny of the surrounding area has been closely linked to that of the mine ever since. The Stanari mine achieved annual coal sales of 600,000 tons in 1989. During the 1990s, production figures and overall conditions at the mine deteriorated sharply, due to lack of investment and hostilities in Bosnia and Herzegovina. In 2004, the Government of Republika Srpska commissioned an international public tender to find a strategic partner for rehabilitation and development of the Stanari mine. EFT Holdings submitted the strongest bid and became the majority shareholder of the Stanari Mine Company with 72% of shares. The company was awarded a 30 year concession for exploitation of the mine, which is extendable by an additional 15 years. In November 2006, as the successful bidder in the public international tender, EFT (Holdings) ApS bought the remaining 28% of shares and became the 100% owner of the Stanari mine. Since taking over the mine in May 2005, the EFT Group has invested over EUR 45 million in its rehabilitation and modernization. The number of employees has risen from 250 (2005) to 460 (2011)."

Proposed expansion

The Stanari Thermal Power Plant is a proposed 300 megawatt (MW) lignite-fired power station which is being promoted by a subsidiary of the UK-headquartered EFT Group. The project would source coal from the existing Stanari coal mine. (Note: the Bosnia and Herzegovina Foreign Investment Promotion Agency lists the project as a 420 MW project[3] when EFT's subsidiary describes it as a 300 MW project).[4]

The company states that the new power station could consume 2.3 million tonnes a year of the mine's 2.5 million tonnes production.[2]

Articles and Resources

Sources

  1. "Another year of record production at the Stanari mine", Media Release, February 15, 2012.
  2. 2.0 2.1 EFT Group, "EFT Annual Review 2011-2012", EFT Group, May 2012, page 48.
  3. Foreign Investment Promotion Agency, Bosnia and Herzegovina Investment Opportunities: Bosnia and Herzegovina Energy Sector", September 2011, page 10.
  4. "About", EFT Group website, accessed October 2012.

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