Proposed acquisition of a stake in a project for exploitation of a lignite coal field with reserves of 800-1000 million tons, to be extracted over a period of 50 years.
A geological report on the coal deposit has been approved by the Ministry of Environment and Water and the Ministry of Economy, Energy and Tourism.
The procedure for registration of Commercial find is ongoing (the Commercial find certificate is a pre-requisite for gaining concession rights).
The procedure for an Environmental Impact Assessment (EIA) is in a final stage.
After the positive decision on EIA report is issued, the Commercial Find Certificate will be granted to by the Minister of Economy, Energy and Tourism. Within six months after obtaining the certificate, the Project Developer has to present a plan for development of the coal field and apply for concession rights.
The amount of the lignite reserves depends on the technology to be used for utilization.