Total of 700m EUR required for new strip mine Radljevo

The Director General of Mining Basin Kolubara, Nebojša Ćeran, announced the opening of strip mine Radljevo, which required the investment of 700m EUR.

Ćeran explained for the new issue of the company's monthly magazine "Kolubara" that Mining Basin "Kolubara" would require about 150m EUR worth of investments per year within the next seven or eight years, as well as that about 800m EUR should be invested only in basic mining equipment "within the scope of one of the largest investment cycles in the history (of that coal mine)".

He added that the opening of strip mine Radljevo would be preceded by the opening of strip mines Polje C and Polje G in order for the sufficient quantity of coal to be provided for the existing steam power plants in Obrenovac, Veliki Crljeni and Svilajnac, as well as for the future blocks within steam power plant Kolubara B in Kalenić and TENT B-3 in Obrenovac.

According to Mr. Ćeran, completion of the project for design and installation of the new barren land system on strip mine Tamnava-Zapadno Polje "is one of the models that give us the hope that the realization of large investments is possible with the help of long-time partners and associates".

That project is worth over 77m EUR, the funds have been provided from the loans granted by EBRD and KfW Bank, and the equipment is produced by local and German companies.

The Assistant to the CEO of Mining Basin "Kolubara", Jelenko Mićić, told "Kolubara" that the investment plan of the Electric Power Company of Serbia (EPS) for year 2010 anticipated the investment of about 21.15 billion RSD in the largest coal mine in Serbia.

Since 2006, MB "Kolubara" has been setting new records in coal production every year. In 2008, that record amounted to about 30.5m tons of lignite. Kolubara's coal is used for production of 52% of all electric power produced in Serbia during one year.