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MF: OKD to extend production until end of 2023

(CIANEWS) - OKD has sufficient thermal and coking coal for key domestic customers and will continue to mine hard coal until the end of 2023, during which time the company plans to produce around 1.3 million tonnes. The Ministry of Finance (MF) informed that the decision to extend mining is based on three facts. Firstly, the government's desire to ensure sufficient coal for at least the next two heating seasons, and secondly, the huge demand from domestic customers, which was triggered by a shortfall in coal supplies from the east due to Russian aggression in Ukraine. And thirdly, the sufficiently high prices of hard coal on world markets, which keep OKD in profit. The company currently has thermal coal contracts in place with key customers until June 30, 2023 and will start seeking mining permits for the next period, which would allow it to secure supplies for key customers until 2025.

 

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