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  • Prairie Mining (PDZ) says Lubelski Węgiel BOGDANKA (Bogdanka) has been awarded a mining concession by the Polish Government
  • The concession is for the K6-7 deposit and is an integral part of Prairie’s planned Jan Karski Mine at the company’s Lublin concession
  • Prairie says it remains open to resolving the dispute with the Polish Government in a civilised manner
  • Prairie Mining has dropped 13.04 per cent on the market today and is trading at 20¢ per share

Prairie Mining (PDZ) reports Lubelski Węgiel BOGDANKA (Bogdanka) has been awarded a mining concession by the Polish Government.

The concession is for the K6-7 deposit and is an integral part of Prairie’s planned Jan Karski Mine at the company’s Lublin concession.

Prairie Mining is a multi-project coal development company and is focused on developing the Jan Karski Mine in the Lublin Coal Basin and the Debiensko Mine in Upper Silesia.

Bogdanka is one of the leaders in the hard coal market in Poland. The hard coal sold by the company is used primarily for the production of electricity, heat and cement.

“Prairie is not able to make further comment regarding Bogdanka’s announcement until formal Polish government notifications are received by the company and a formal legal assessment can be made,” the company said.

It will continue to fulfil its obligations, however, the award of a mining concession to Bogdanka continues to demonstrate evidence of the discriminatory treatment faced by Prairie as a foreign investor in Poland.

In February, Prairie formally notified the Polish Government that there is an investment dispute between the company and the Polish Government.

The notification called for prompt civil negotiations with the government about the issues.

The dispute arises out of certain measures taken by Poland in breach of the Energy Charter Treaty and Australia-Poland Bilateral Investment Treaty.

Prairie says it remains open to resolving the dispute with the Polish government in a civilised manner.

“As of the date of this announcement, no amicable resolution of the dispute has occurred, since the Polish government has declined to participate in substantive discussions related to the dispute,” the company said.

“Prairie is currently working with its legal advisers (including international arbitration legal experts) to prepare submissions and finalise funding arrangements for the international arbitration claim(s),” it added.

Prairie Mining has dropped 13.04 per cent on the market today and is trading at 20¢ per share at 11:31 am AEDT.

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