Kolubara mines are operating with income

Mining basin Kolubara company operated positively in the first half of this year, stated the General Manager of this company Mr.Nebojsa Ceran..

He expressed the expectations that Kolubara will finish 2011 with positive income as well as the last year when the profit income was 2 mil euro.

Kolubara for the first 8 months this year overfull filled the coal production for 7 %, which is around 1,3 mil tons of coal of more than was planned, stated Mr.Ceran.   

Mr.Ceran stated that this company completed last 2 business years with positive income profil of 2 mil euro, and that the overall positive business result was also achieved and which represent the successful operation of the company.  

Such business success is the result of cost cutting and expenses rationalization wherever it was possible and explained that nowadays the costs for heavy machinery are now lower for 80% in comparison with last year and that also maintenance costs are decreased for around 15 mil euro per year

A lot was achieved also in the area of coal wholesales due to the changed prices of Kolubara coal.

Due to this measures incomes are increased for more than 10 to 20 mil euro per year, stated Mr.Ceran and added that the price that Kolubara was selling the coal for wholesales was for years unrealistically low which created the space for large margins of coal traders.

Source: Serbia Energy & Tanjug