Prairie Mining Limited Jan Karski Update (5818V)
09 Abril 2019 - 1:01AM
UK Regulatory
TIDMPDZ
RNS Number : 5818V
Prairie Mining Limited
09 April 2019
PRAIRIE MINING LIMITED
NEWS RELEASE | 9 April 2019 | LSE/WSE/ASX: PDZ
JAN KARSKI MINE UPDATE
In April 2018, Prairie Mining Limited (Prairie or Company) filed
a civil law claim against the Polish Ministry of Environment (MoE)
due to its failure to grant Prairie a mining usufruct agreement
over the concessions which form the Jan Karski Mine (Jan Karski)
and in order to protect the Company's security of tenure over the
project.
The Company had been awarded the Priority Right to apply for a
mining concession at Jan Karski in 2015 following its full
compliance with Poland's Geological and Mining Law (2011).
Subsequent to Prairie's filing of the civil law claim discussed
above, the Polish Civil Court granted Prairie an injunction
preventing the MoE from granting prospecting, exploration or mining
concessions and concluding usufruct agreements with any other party
until full court proceedings were concluded.
In its ruling, the Court stated that: "Based on the evidence one
may at this point state that the plaintiff [Prairie] enjoys the
right to request conclusion of the requested mining usufruct
agreement for the 'Lublin' hard coal area (otherwise known as Jan
Karski) resulting from Article 15 of the Geological and Mining Law
[2011]."
An Appeal Court in Warsaw has now overturned the Civil Court's
decision and lifted the injunction. Prairie believes that the
Appeal Court's decision is fundamentally flawed as it has the
effect of retrospectively applying the August 2018 amended version
of the Geological and Mining Law and (incorrectly) concludes that
Prairie did not have a Priority Right over the entire Jan Karski
(Lublin) deposit.
Prairie's civil law claim against the MoE for failure to grant
the Company with a mining usufruct agreement at Jan Karski remains
ongoing and is not impacted by the Appeal Court's decision to lift
the injunction. The Appeal Court's decision is further evidence of
the unfair and inequitable treatment faced by Prairie as a foreign
investor in Poland and the Company will therefore consider all
other actions necessary to ensure its rights are preserved.
In February 2019, the Company formally notified the Polish
Government that there exists an investment dispute between Prairie
and the Government that has arisen out of certain measures taken by
Poland in breach of the Energy Charter Treaty, the UK-Poland
Bilateral Investment Treaty and the Australia-Poland Bilateral
Investment Treaty.
Discussion continue between Prairie and JSW
Discussions between Prairie and Jastrz bska Spó ka W glowa SA
(JSW) have been ongoing with JSW reporting that it would like to
conclude the basic terms of a potential transaction with Prairie
for the Debiensko and Jan Karski projects by the end of April
2019.
In February 2019, Prairie and JSW signed an extension to an NDA,
in order to discuss a deal structure and commercial terms for any
co-operation or transaction and for the adaption of mine plans for
both Debiensko and Jan Karski to align with JSW's development
concepts and to maximise potential synergies at Debiensko.
There can be no certainty as to whether any transaction(s) or
co-operation will be agreed, or the potential form of such
transaction(s) or co-operation. It is emphasised that any potential
transaction(s), should they occur, may be subject to a number of
conditions including, but not limited to, obtaining necessary
corporate approvals, consents and approvals related to funding,
consents from Poland's Office of Competition and Consumer
Protection (UOKiK) if required, and any other requirements that may
relate to the strategy, objectives and regulatory regimes
applicable to the respective issuers.
For further information, please contact:
Prairie Mining Limited Tel: +44 207 478 3900
Ben Stoikovich, Chief Executive Email: info@pdz.com.au
Officer
Sapan Ghai, Head of Corporate
Development
This information is provided by RNS, the news service of the
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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