The approval from NWR’s board is based on the detailed feasibility study, which showed that the mine possesses 190 million tonnes of reserves, with an average annual production of two million tonnes.
Detailed engineering has also commenced and is planned for completion by end March 2012.
The company holds a 50-year mining license, and has also applied for an amendment to this license for mining additional coal seams at Debiensko.
Approval for this is now expected by mid-2012 following the completion of the environmental review.
The company also plans to invest EUR50m ($70.92m) in the project, which it expects to finance through cash flow from existing operations and debt.
