New World Resources (NWR) has completed a positive pre-feasibility study for the Debiensko project in Poland, undertaken by DMT Consulting and is exploring plans to finance a mine revival.
The company has devised ways to reduce the capital and operational expenditure required for the project and it is now looking to attract funding for a two-year feasibility stage for the project.
During the study, DMT identified a total of 263 million tonnes (Mt) of proven and probable coal reserves under the JORC 2012 code, all of which are hard coking coal.
After processing, it is expected to yield 186Mt of marketable reserves.
The study was conducted as part of the strategic review of the Debiensko project announced in November 2014, and the company is currently exploring funding opportunities.
NWR has appointed Moelis & Company to assist with the process.
The project is said to involve developing an underground mine to exploit coking coal reserves in the Debiensko area, which is located in the Upper Silesia Coal Basin of southern Poland.
Initially, NWR started planning the project in 2006 and was granted a 50-year mining licence in 2008.
The project was suspended in 2012 and in 2013, DMT was contracted to undertake a pre-feasibility study to evaluate alternative development options and re-estimate the project's reserves.
Image: Debiensko coal mine in Poland. Photo: courtesy of NWR KARBONIA SA.