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Пресс-релизы26 Декабря 2007 Acquisition of shares in Lubel Coal Company Ltd Da Vinci CIS Private Sector Growth Fund Ltd would like to inform its shareholders that it has completed the acquisition of shares in Lubel Coal Company Ltd, an BVI-based limited liability company. Lubel controls CCI Lubelya, a company registered in Ukraine, which holds a license to develop one of the largest coking coal deposits in Western Ukraine (industrial reserves amount to approximately 150 million tons of high quality K grade coking coal). The total investment in Lubel is USD 15 million. The objective of the Company is to create a world-class low cost coal mining company through the development of its license area, which forms part of Lvov-Volyn coal basin of Western Ukraine, and to benefit from its developed infrastructure, the availability of a skilled underground coal mining workforce and a very favorable location for exports, being just approximately 30 km from the EU border of Poland. The development framework for the project currently envisions the construction of a world-class, modern underground mine and coal processing plant capable of mining and processing 5.2 million tons coal into 4.15 million tons of coking coal concentrate annually. The mine is expected to start production in 2012. The Company plans to conduct an IPO on a recognised stock exchange by the end of 2008, as market and other conditions permit. For further information please contact: Avigail Slavin, Investor Relations and Marketing Manager Tel: + 44 20 7529 6643 |
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