Talk:Stanari coal mine
The Stanari mine is located approximately 70km to the east of Banja Luka in Republika Srpska, Bosnia and Herzegovina. Total proven lignite coal reserves at the Stanari basin are 108 million tons. The coal quality is measured at LHV 9100 kJ/kg, moisture at 49%, with ash at 7.5% and sulphur at 0.13%. Excavation at the mine started in 1948 and the destiny of the surrounding area has been closely linked to that of the mine ever since. The Stanari mine achieved annual coal sales of 600,000 tons in 1989. During the 1990s, production figures and overall conditions at the mine deteriorated sharply, due to lack of investment and hostilities in Bosnia and Herzegovina. In 2004, the Government of Republika Srpska commissioned an international public tender to find a strategic partner for rehabilitation and development of the Stanari mine. EFT Holdings submitted the strongest bid and became the majority shareholder of the Stanari Mine Company with 72% of shares. The company was awarded a 30 year concession for exploitation of the mine, which is extendable by an additional 15 years. In November 2006, as the successful bidder in the public international tender, EFT (Holdings) ApS bought the remaining 28% of shares and became the 100% owner of the Stanari mine. Since taking over the mine in May 2005, the EFT Group has invested over EUR 45 million in its rehabilitation and modernization. The number of employees has risen from 250 (2005) to 460 (2011). The Stanari Mine will increase its annual production to 2.5 million tons by 2015, of which 2.3 million will be supplied to TPP Stanari.
In 2011, coal sales reached 927,000 tons and nearly 8 million m3 of overburden was excavated.