Prairie Mining Limited Report On Payments to Governments (6731S)

TIDMPDZ

RNS Number : 6731S

Prairie Mining Limited

23 December 2016

PRAIRIE MINING LIMITED

NEWS RELEASE | 23 DECEMBER 2016

REPORT ON PAYMENTS TO GOVERNMENTS

Prairie Mining Limited ("Prairie" or "Company") and its controlled entities ("Group") provides information in accordance with London Stock Exchange Listing Rule DTR 4.3A in respect of payments made by the Company to governments for the year ended 30 June 2016 and in compliance with The Reports on Payments to Governments Regulations 2014 (SI 2014/3209).

The following schedule details payments made to Polish government entities by its wholly owned Polish subsidiary PD Co sp. z o.o. ("PD Co"). Further, due to the operational focus of the Group during the year ended 30 June 2016, the Polish government is the only relevant party to whom payments are made.

 
 Reporting Category                                   Total Payments 
                                                             30 June 
                                                                2016 
                                                                  A$ 
                                                     --------------- 
                                                          Jan Karski 
                                                                Mine 
---------------------------------------------------  --------------- 
 
 Production entitlements                                           - 
 Income Taxes                                                      - 
 Royalties                                                         - 
 Dividends                                                         - 
 Signature/discovery/production bonuses                            - 
 Licence fees (including mining usufruct payments)           312,195 
 Infrastructure improvements                                       - 
 
 Total                                                       312,195 
---------------------------------------------------  --------------- 
 

This report is also available for download at www.pdz.com.au.

For further information, contact:

 
 Ben Stoikovich 
 Chief Executive 
  Officer 
 [phone] 
 
 Artur Kluczny 
 Group Executive 
  - Poland 
 [phone] 
 
 Sapan Ghai 
 Corporate Development 
 [phone] 
 [e-mail] 
 

ABOUT THE DEBIENSKO HARD COKING COAL PROJECT

Debiensko is a world class, fully permitted, hard coking coal project situated in Upper Silesia in Poland, a strategic location in the steelmaking heartland of Europe where more than 80% of current coking coal usage is imported and the commodity is classified by the European Commission as a "Critical Raw Material".

A large scale Coal Exploration Target has been estimated based on historical drilling and resource work completed to Polish standards, as well as data from adjacent operating mines. Coal seam qualities are indicative of internationally traded benchmark premium hard coking coals

Debiensko is fully permitted with a 50-year mining concession, established on-site facilities including rail, road and power infrastructure, comprehensive historical drilling data and all environmental consents. As a brownfield development project, significant historical capital investment positions Debiensko to become a meaningful, near-term regional hard coking coal producer.

ABOUT THE JAN KARSKI MINE

The Jan Karski Mine is a large scale premium coal project located in the Lublin Coal Basin in south east Poland. The Lublin Coal Basin is an established coal producing province which is well serviced by modern and highly efficient infrastructure, offering the potential for low capital intensity mine development. The Jan Karski Mine is situated adjacent to the Bogdanka coal mine which has been in commercial production since 1982 and is the lowest cost hard coal producer in Europe.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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December 23, 2016 02:00 ET (07:00 GMT)