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1 New World Resources magazine No interview Project management contingencies, schedules and good communication technology Carbon Capture and Storage responsibility Qualified people are key to the future of NWR

2 Editorial Dear Readers, Two years ago when I was entrusted with the position of OKD Foundation Director, I discovered a well-organised team doing plenty of good work. But to some extent the organisation had the reputation of an unwanted child. My key assignment, therefore, was to bring the Foundation closer to more people, to adjust the focus of its activities to better match the long-term objectives of its parent company, and to improve its integration into the NWR family in order to overcome the perception of a one-sided-affair: we send money, the Foundation distributes it. Looking back, I can say that we have successfully fulfilled these goals. Our Foundation is the second largest and the most recognised corporate foundation in the Czech Republic. We have more focus on development projects in mining areas, and on our employees and donors. In recognition of its work, OKD in September won the prestigious Via Bona award for its strategic donorship. This is primarily expressed through its work with the Foundation and the Saint Barbora civic association. It would be foolish to say that thanks to the Foundation we are in for a brighter future. Nevertheless, I am convinced that acting responsibly pays off in the long term. Various development projects have already started, or are being planned, with municipalities in the mining areas. We have created a new programme for employees, Srdcovka (Affair of the Heart), who are engaged in after-work voluntary activities with 40 different associations. From a personal standpoint, it is these small-scale projects that make me happier than the bigger ones. The gratitude and responsibility shown by our employees who selflessly offer their help serve as a reminder not to forget our neighbours and communities. By way of conclusion, I must thank all our donors and volunteers who contributed to making the projects and events happen, and the many other people who have expressed their appreciation for our activities. We are grateful for this support while keeping our feet firmly on the ground. We keep in mind the fact that it is the coal industry that enables us to annually invest tens of millions of crowns in the people of our region. The better the company does, the better it is for the people that live nearby. We can only hope that the positive results of our work will increase the number of people who understand that simple equation. I wish you success in both your personal and working lives. Jiří Suchánek Director of OKD Foundation Open Mine No. 3 I 2012 Published by: New World Resources Plc c / o Hackwood Secretaries Limited One Silk Street London EC2Y 8HQ United Kingdom Jachthavenweg 109h 1081 KM Amsterdam Netherlands Tel.: Fax: Web: newworldresources.eu Editor-in-Chief: Tomáš Píša Editor: Marek Síbrt Cooperation: Roman Grametbauer Production and distribution: BISON & ROSE Design and typeset: BISON & ROSE Registration: MK ČR E Submission deadline: All rights reserved. The reproduction and use of all images contained within this publication without the written approval of NWR is forbidden. The logos of companies, products and services introduced in this publication are the business trademarks of the respective firms. Questions, remarks and article ideas can be sent to: An electronic version of the magazine including active links is accessible on the Company website. With a QR code reader on your mobile phone, you do not have to retype a web address. Just scan the code on the left into your phone.

3 6 9 An interview with the new project director of NWR KARBONIA The challenge of carbon dioxide capture Talented students are NWR s future Golf not just for businessmen Work and housing for people with disabilities Content 4 5 economy NWR H results: excellent cost control underpins NWR s performance 6 9 interview Project management: contingencies, schedules and good communication technology Carbon Capture and Storage technology Ferrit: Cooperation with OKD is key for us responsibility Qualified people are key to the future of NWR economy Poland's hard coal industry reclamations Putting among the pits responsibility Thanks to the OKD Foundation people with disabilities now have work and places to live

4 economy interview technology NWR H results: excellent cost control underpins NWR s performance In August NWR announced its results for the first six months of 2012 achieving a solid financial performance in the period marked by falling coking coal prices and slowing steel production. The highlights of NWR s interim results were twofold: an improved external coal sales mix with a higher proportion of coking coal; and tight cost control on all levels. H Revenues were EUR 694 million, and EBITDA was EUR 158 million. We had strong coal production of 5.8 Mt with an external coal sales of 4.8 Mt and we continued to see an improvement in our external sales mix, achieving 55 per cent coking coal. Due to our continued focus on cost control during the period we achieved flat mining unit costs in the local currency, an excellent result given the increasing cost challenges facing the industry and the increasing average depth of our mines. H Highlights: Coal production of 5.8 million tonnes Flat mining unit costs of EUR 80 /t Interim dividend per share of EUR 0,06 11,0 11,1 million tonnes full year production target Continuous improvement in safety Safety remains our number one priority and our Lost Time Injury Frequency Rate continues to improve. It now stands at 7.56 lost-time injuries per million hours worked and our focus is very much on the target of less than five by Our balance sheet remains strong. Net debt stood at EUR 472 million at the half-year point. This figure includes the 2011 final dividend payment NWR paid out to shareholders in May of EUR 19 million. Cash and cash equivalents were EUR 452 million as at 30 June Interim dividend Given our solid performance and reasonable visibility we announced an interim dividend of 6 Eurocents per share wholly in line with NWR s dividend policy of paying out 50 per cent of Net income over the course of the business cycle, to be paid in September Solid Q pricing Since mid-2011 global coking coal prices have been on a marked decreased trajectory, and coupled with the more recent abundance of semi-soft coking coal in the region, NWR s Q3 coking coal prices again came under pressure. Despite this we achieved a good result for our third quarter coking coal price of EUR 129/t, marginally above the Q2 average realised price. Our coke price remained broadly flat at EUR 294/t with a continued high proportion of the more stable and higher-margin foundry coke in the sales mix - a credible result against the backdrop of continued stagnation of the regional coke market. And finally, our thermal coal prices are locked-in for 2012 at an average blended price of EUR 74/t. Growth projects The review of our Debiensko project in Southern Poland announced earlier in the year is currently underway focusing mainly on the cost side of the project and will take several months to complete. We expect to update the market with the findings of the review around the end of the year. At our current operations the expansion projects at the Karvina Mine to unlock a further 30Mt of hard coking coal by 2017 are progressing to schedule. FY 2012 guidance Our order books for the remainder of 2012 remain full and for the FY 2012 we now expect to produce Mt of coal, a slight increase from our 4

5 safety reclamations responsibility earlier guidance, and externally sell Mt coal. We are also on track to deliver an improved external coal sales mix with an expected 48 per cent of external coking coal sales for FY 2012 against 44 per cent last year. We continue to expect flat mining unit costs on a constant currency basis and CAPEX guidance is also unchanged at EUR million. New Executive Chairman We are delighted to welcome Mr Gareth Penny to the Board of NWR, succeeding Mike Salamon, under whose leadership NWR has undergone a major transformation and has developed into a world-class underground coal miner and a highly regarded FTSE 250 company with outstanding standards in safety, operational efficiency, and transparency. Gareth Penny as the new Executive Chairman of NWR will continue building on these strong foundations. Reaction on results and market outlook NWR s results were generally in line with or ahead of analyst expectations, reflecting a solid operational and financial performance in the current environment. Analysts were particularly impressed with the Company s cost control when compared to other mining companies in the region, as well as globally. Analysts and investors, however, remain cautious on the impact of broader macroeconomic environment on NWR s future performance. And indeed, the short-term economic outlook remains challenging but our business model continues to be robust, supported by long-standing relationships with our steel customers. Furthermore, car production in the region is holding up well and the increasing orientation of our customers towards high value-added steel products underpins the overall competitiveness of the regional steel sector our principal customer market. Radek Němeček Head of Investor Relations Gareth Penny appointed new Executive Chairman of NWR NWR has announced that Gareth Penny is to become Executive Chairman of the Company on 1 October 2012, succeeding Mike Salamon, who will retire from the Board after serving for five years as Executive Chairman. Mr. Penny, who is 49, has 25 years experience in the extractive industries working at international mining companies Anglo American, De Beers and AMG. As Chief Executive of De Beers between 2006 and 2010, Gareth developed a strong track record for shareholder value creation as a result of both a clear strategic insight and the ability to manage change, said the outgoing Executive Chairman Mike Salamon. Webcast Slide Search Slides Downloads Jan Fabian, Chief Operating Officer Steel environment Steel production, NWR s customer markets 1 Mt Source: World Steel Association Steel production in NWR's customer markets (LHS) Global utilisation ratio of 64 countries (RHS) Q1 08 Q Austria, Czech Republic, Germany, Poland and Slovakia NWR revenue exposure to end sectors 26% 26% On August 23, New World Resources Plc announced its 2012 Interim results from the building of the London Stock Exchange. Mike Salamon, Marek Jelinek and Jan Fabian were presenting the results to around 150 people joining the conference either at LSE or through the live webcast. Q3 08 Q4 08 Q1 09 Q2 09 7% High-end steel products Construction Q3 09 Q4 09 Source: NWR FY 2011 Results; NWR estimates 42% Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Mechanical engineering 21% Q4 11 Q1 12 Automotive & railways 79% Packaging Electrictity and heat generation Q2 12 % Coking coal market share in Central Europe 15% 3% 57% 25% Source: 2011 production for Polish producers and NWR; 2011 imports estimates from IEA NWR Polish producers US imports Other imports 2 Austria, Czech Republic, Hungary, Poland and Slovakia Foundry coke market share in Europe 22% 13% 28% 36% Source: NWR estimates of installed foundry coke capacities NWR Poland Italy Spain 8 As Executive Chairman, Mr. Penny will provide leadership at Group level within NWR s holding structure, taking responsibility for the Company s overall growth, development and performance, directing and leading the execution of the Company's strategy through the operating subsidiary management teams. I am very excited to be taking over as Executive Chairman of NWR and look forward to contributing to the further development of the Company s growth strategy and to working with the excellent management team of NWR, said Mr. Penny. 5

6 economy interview technology Project management: contingencies, schedules and good communication Rodney Voigt, a South African project management professional who earlier this year took up the post of Project Director at NWR's Polish subsidiary NWR KARBONIA, is rich with experience from several decades developing a diverse range of mines, including coal, gold, copper and manganese. Open Mine caught up with Mr. Voigt at the Dębieńsko mine in southern Poland, where he leads NWR KARBONIA's project to potentially extract up to 190 million tons of coking coal reserves under its 50-year mining license. What brought you from South Africa to South Poland? I was project director for AMCI, a mining, investment and trading group, when [NWR Executive Chairman] Mike Salamon introduced NWR s Polish projects to me, requesting my professional input. I was thus instrumental in setting things up here. When involved in a project you become so immersed in detail you sometimes forget the bigger picture. I therefore suggested that NWR KARBONIA appoints a Steering Committee that asks the awkward questions project people are possibly not looking at and that is also able to roll stones out of the way because sometimes you cannot solve problems within a project, you need an external resource that allows you to do it. Sometime after AMCI in South Africa was closed [NWR Chief Operating Officer] Ján Fabián asked if I'd like to come across and manage project implementation. I've been in Poland since April. What were your first steps? A project is a project. I follow a very simple process, and that is actually to keep it simple, then do all the steps, with the emphasis on "doing", and continuously manage risk. The first thing is, fix the scope, know what you are going to do, and we are in that phase right now, redefining exactly what we are going to do. Then, plan it. Planning is actually very simple, very systematic. You need to structure the way you put things together in a fairly pedantic way for the simple reason that you must know you are not double-accounting, or more importantly, leaving something out. Cost and scheduling need to tie in together extremely well. One thing I've made mandatory now in any project I do is to add a schedule contingency. Most people understand the requirement for a cost contingency, recognising it is impossible to know every cost to the cent. I want a schedule contingency for the same reason. It makes a lot of sense that just as your costs are unknown, your schedule has to be unknown. With the modern tools available today we can get very smart when we get to the stage of building in schedule and cost contingencies. Do you mean we shouldn't expect any fixed schedule for such a project? I'm saying we have our forecast enddate, but a whole lot of things can happen, so I want some contingency for any potential time delays. The worst thing you can tell a board is it is going to cost you this and you are going to get it on that date. Once you ve told them that, it s all they remember. They don't remember they ve changed the scope and done a whole lot of other things. That just disappears out of their memory banks and then when you are one day late they say 'That's a bad project', and they say the same if you re a couple of zlotys or euros over-budget. So from a project 6

7 safety reclamations responsibility reporting perspective I'm saying we need to understand what we think the costs and schedule are and to plan for known unknowns. That s why we have contingencies. For known unknowns and also unknown unknowns? Well unknown unknowns are a real problem! They can really bite you! Regarding contingencies, do investors think likewise? With investors, particularly big banks, you do all this great work and then, on top of everything, they add on another layer of risk as they are lending you the money, so you end up putting risk on risk. In some projects in which I ve dealt with investors, we know they re going to do that so we take out part of our contingency, otherwise you may end up having to fund a potential 25% of the project cost in overruns, which is unrealistic. But today, assuming the scope is well defined, you can quite accurately determine the costs. It is the schedule overrun people aren t familiar with, which can cost you real money. I like to build in a schedule contingency and today there are very smart ways of doing it. You should quantify the time and cost risks in monetary terms, showing it on a curve, that will start high and then decrease as the project progresses. You are then able to tell the board as you progress that, for instance, certain risks have not materialised and the requirement for risk funding is thus reduced. At the end of the project clearly the risk funding requirement is zero. So the nature of your job is rather risk management? Yes. My big job as a project manager is to understand and mitigate risk and I do that firstly by structure, in how we put everything together. To manage risk I look at the bigger picture, allowing for "known unknowns" in cost and time with cost and schedule contingencies. The thing about project management is get the fundamentals in place and then you just need to manage the day to day activities. It doesn't take a rocket scientist to understand that if you complete, on every day, what you planned to do, the project will be completed on time. Simple. The problem comes when change happens, so one thing I'm extremely meticulous about is change control. Once I have a signed off document saying this is what we're going to do, then that is what we're going to do, nothing more, nothing less. I'm extremely reluctant to change, even if something comes along that makes a whole lot of sense. I'm just not interested. So spend a lot of time upfront determining what it is you want. You want to stick to the path... Yes, the way you ensure you get to the end-of-the-job prize is to understand what you're doing and manage the remaining work. It s the only way you can influence things. You can't manage or change something that occurred in the past so I really concentrate on remaining work and change control. In what industry have you mainly applied your expertise? I'm a civil engineer by training; I designed bridges for the first couple of years of my working life. Then I discovered South Africa s mining industry and its sheer scale was so interesting for me. By the early 1980s I was in the General Mining Union Corporation engineering office in South Africa and I've been building mining infrastructure ever since from a design and project management perspective. Most of my experience is in hard rock mining in the platinum industry, but I've also worked in gold, manganese, copper and uranium. It was with AMCI that I got into coal, in Mozambique. 7

8 economy interview technology My expertise is in the development of the mine's infrastructure. The process of mining is not particularly complicated. You've got a resource to extract in some way and once this is done, thereafter it becomes a logistics problem. You've to get the ore from there to there in the most efficient way, clean it or wash it and move it on, so it becomes a logistics issue. I specialize in infrastructure enabling logistics. I've a very strong shaft construction background, with involvement in 15 or 20 shafts in my career in South Africa, and processing plants to a lesser degree. I'm here to build the infrastructure that will enable the efficient extraction of coal at Dębieńsko. How long is it since you switched from bridges to mines? About 35 years. I've done a lot of work in Africa; some work in the US and India, and this is my first job in Europe. I was founding partner of Read, Swatman & Voigt, an EPCM [Engineering, Procurement, Construction Management] company in South Africa. They are still going very strong today, known as RSV. I left there in 2006 and went to the South African rail, port and pipeline company, Transnet where I was involved in the upgrade of Durban port container terminal. The project management discipline always deals with the same issues albeit in different fields. Mining is just more restrictive in the sense that, particularly with underground mining, you often have one access point only and less opportunities to do concurrent work, which makes the planning that more important. The single access point is a massive constraint and limits what you are able to do. What do you find most challenging in developing mines? There are so many unknowns, particularly in underground mining. There are things you can never get an understanding of until you get there such as rock or water conditions. An example: we were building a mine in the Kalahari Desert just off Namibia. I asked the engineers what water risk to allow for whilst sinking a shaft. They'd been working there for years, but when we asked they laughed at us, saying, "this is a desert, you're not going to get water!". But during the construction of the shaft we spent over two and a half months trying to get through a water bearing feature, so much so we thought at one stage that we were draining a surface dam and recirculating the water! That's an example of unknowns in mining; you just never know what you're facing. Are there many differences between opening a mine here and in South Africa? The differences are minimal. If you follow the process you'll get there. The only real difference is the legislative environment. No matter where you are in the world you need an environmental approval and other permits. From what I ve seen in Poland the permitting processes are extremely prescriptive, so you need to do this, this, this, then that, and only then will you get your permit. In Tanzania, for instance, environmental approvals also need to be obtained, though it s perhaps not as onerous as here to get them, but you need to get them all the same. Anyway, NWR subscribes to the Equator Principles so even if regulations don't require it we will always mitigate any environmental damages that result from our mining activities. What s this project s very particular challenge? Apart from the language issue!? I like to bring humor into discussions using examples from historical figures. One thing I often say to people is that someone no less eminent than Einstein said "the most insane thing in the world is to do the same thing again (repeatedly) and expect a different outcome!" It is those sorts of pearls of wisdom I like to impart to the team to get them to grasp things. I'm used to challenging all boundaries. One issue came up here recently which to my mind was a bureaucratic problem. It was an issue on paper only, not a real issue. I said to the team one option 8

9 safety reclamations responsibility that presented itself was to go ahead and do it, without the necessary permits and pay a fine for not following the bureaucracy. But, and here s where many years of working with the Equator Principles comes in, those are the kind of things where you say, 'No, we can't do that, but find another way' But many other companies would do that... Yes, but one thing I do is challenge all perceived boundaries and it worked because we solved that problem differently. Possibly, it was the suggestion that 'We're doing it in any case guys' that provided the opportunity to say, 'No, find a way to do it without the fine', and we found it. You don't learn from successful projects, you learn from 'Oh Jeez, I mustn't do that again!'. Sometimes you bumble through not realizing how lucky you are to get to the other side. You walk through a minefield without knowing it. Project Management is an experiential profession. Obviously there's best practices we all follow, but it s really experiential when you say, 'This just doesn't look right.' You develop a sixth sense about where the next disaster lies. The other things, those that are working, let them work and move on. In your career, is there one standout challenge, which you overcame? In every single project there is always one thing or another that could have been done better. On one project the main contractor was liquidated during implementation. And in the legal dispute that followed, because we d followed standard procedures, when documents were called for, we could produce them, and they were accurate and all those kind of things. That's the process (and experience) part of it. Because we did what we did, when things got challenged in a fairly robust legal way, we passed muster. And the mine got built, it's a fabulous mine, working beautifully today. Another project was a hydro scheme supplying water from Lesotho to South Africa. The main contractor, a French company, in another example of known unknowns, enormously underestimated the length of tunneling that required concrete lining. I can't remember but say they estimated 500 meters, but now needed to do five kilometers, and at ten times the volume, the method that they had planned for sending the concrete underground wouldn t work. Our company, RSV, proposed and implemented mining technology in a tunneling project. Instead of driving trucks down the decline, we lowered a rail bound tandem shuttle car, each loaded with two 25ton agi cars, using a single drum mine hoist machine. This enabled 100 tons of concrete to be lowered per trip. The system worked so well it is now their standard approach in this application and is used worldwide. What additional value can an international perspective bring to the Dębieńsko project? An example. One surprise for us was the cost of sinking the slopes. I think the team only looked locally, but internationally better prices could possibly have been obtained. Then you have shaft sinking. It's a function of the market. If the market is buoyant the available worldwide resources are limited and you will pay a premium. Right now, we're in the process of determining how buoyant the market is. In Europe there's not much going on, but internationally things are quite busy. We will see. Given that you re operating in a much different place than is usual for you, what experience from OKD s mines in Ostrava are you able to incorporate? From a mining perspective there's actually little difference between Poland and the mines in the Czech Republic. OKD's people understand their mining operations better than anyone else and we ve also appointed a German company that has worked intensively on the efficiency improvements at OKD mines. We re trying to build in the best of the efficiency improvements upfront to construct a state of the art mine at Dębieńsko. So we certainly make use of not only OKD but the efficiency improvement specialists they brought in. Hopefully we will start off at the high level OKD have pulled themselves up to. Tell us something about your life in Dębieńsko. Is your family here? They ve stayed in South Africa. I think my wife is quite happy she can get on with the things that interest her without having to look after me all the time! My son, who will be 30 this year, recently moved to Philadelphia in the USA to do his MBA at the Wharton School of the University of Pennsylvania. My daughter, who is 26, teaches English and is studying for her Performers' exam in piano at the Royal School of Music. I'm very proud of my family. You split your time between here and South Africa? I m here for 8-10 weeks and then go home, which is Pretoria, for two. That type of arrangement is very common in my field. Over here, I'm a keen golfer and enjoy the occasional game. I really enjoy the food, but I'm not a great garlic fan so if you don't like garlic the choices can be limited! Currently, I'm staying at the OKD Villa in Ostrava, but and I'm looking for a place in Rybnik. Are you picking up Polish? It is extremely difficult! In Czech I can hear the difference between the syllables but the Polish speak so quickly, it sort of all flows together. The one thing I'd like to see is a Polish Scrabble game with all the Zs and Ys, and very few vowels. It would be quite an unusual mixture. I should add we have two magnificent translators that bridge the communication divide. I consider myself a good communicator. This whole project management business is communicating. Getting people to do things they don't want to do, and getting them to look forward to them, that's what makes a good Project Manager. Vladimír Bystrov 9

10 economy interview technology Carbon Capture and Storage For the last couple of decades carbon capture and storage (CCS) has been hailed as the breakthrough technology that would enable us to continue burning fossil fuels for our energy needs without doing further damage to the environment. However, since its early inception the CCS industry has been characterised by false starts, dashed hopes and failed promises. In theory, a CCS system can prevent the release of carbon dioxide (CO 2) into the atmosphere from fossil fuel use in power generation and other industries by capturing the CO 2, transporting it and ultimately, pumping it into underground geologic formations to securely store it away from the atmosphere. The reality has proved much more troublesome and expensive. Although some of the processes involved in capturing and storing carbon emissions have been used successfully in industries such as natural gas extraction, a single, integrated, commercial-scale CCS system that could be fitted to a coalfired power station for instance still seems some way off. Governments around the world have attempted all sorts of incentives to try to kick start the CCS industry but the huge capital costs and uncertainty about future returns have prevented many plans from leaving the drawing boards. Those projects that have advanced further have required large financial backing from the state with their economic viability still under question. At least eight projects around the world are in the later planning stages, mostly in North America, the most advanced already under construction in the Canadian province of Saskatchewan, which plans to start capturing carbon dioxide from a coalfired power station by In Europe, CCS was initially promised large subsidies and started with grand ambitions to have projects up and running by the middle of this decade. Parts of the revenues raised by the EU s cap and trade scheme (a quota of emissions permits) were earmarked to help finance CCS projects across the continent but delays in implementation have pushed all the deadlines ahead by several years. The EU set up a fund that was supposed to encourage firms across Europe to build commercially viable CCS projects in return for about EUR 3 billion but the funding was linked to the value of carbon credits, which have plunged over 50 per cent in the two It has been estimated that for CCS projects in the EU to be economically viable a carbon price of at least EUR 80 a tonne is needed. Carbon credits are now worth just about EUR 8 a tonne. 10

11 safety reclamations responsibility Capture Buffer storage facility CO2 CO2 CO2 years since the project was launched. This fund now stands at some EUR 1.5 billion and a number of projects are currently under consideration. A power project in Yorkshire, England heads the list of eight CCS proposals, followed by the Belchatow project in Poland, and the Green Hydrogen industrial project in the Netherlands. The European Commission has said only two or three projects were likely to be supported within the available funds, which will leave many projects across Europe waiting for possible later rounds of funding. The Commission said it will ask member states to confirm the projects in early October 2012, with a view to finalising its funding decision by the end of this year. These projects will require additional funding from national governments whose budgets are coming under sustained pressure since the onslaught of the financial crises. For instance the UK government launched a GBP 1 billion CCS commercialisation competition last year which is now included in a budget review as the government reorders its spending priorities. Besides the funding issues required to cover the capital costs, CCS will require a viable economic model to remain sustainable in the wider electricity generation market. It is clear that a coal-fired power plant fitted with CCS technology can never compete commercially with regular conventional plants. Only in a market where each tonne of emitted carbon is priced at an appropriate level will Deep aquifer CO2 Storage How carbon dioxide is captured and stored. there be an incentive for companies to install CCS systems to their power plants. It has been estimated that for CCS projects in the EU to be economically viable a carbon price of at least EUR 80 a tonne is needed. Carbon credits are now worth just about EUR 8 a tonne. Another major challenge facing CCS is the lack of a global consensus on tackling carbon emissions. It will prove rather futile if European and North American countries spend billions of euros implementing this technology if developing countries such as India and China continue to build hundreds of new coal fired power plants each year. The breakdown in recent global talks on tackling climate change proves the challenges of reaching agreements on a worldwide basis. However there are encouraging signs coming from China CO2 Oil or gas Depleted oil or fas field as they have committed funding to building demonstration plants for CCS. So the road ahead for the roll out of CCS will be littered with many substantial problems. It seems that governments around the world are vaguely aware that climate change might present all sorts of catastrophic consequences whilst also knowing that we live within societies and an economic system that requires large amounts of energy from fossil sources. CCS presents part of the solution for us to balance these competing needs. Stephen Hough, Market Analyst New World Resources CO2 Unmineable coal seam Methane 11

12 economy interview technology Ferrit: cooperation with OKD is key for us Production halls shining with a new coat of blue paint, another hall being erected nearby and bustling activity all about. Next to the buildings there is a modern testing circuit for new technologies necessary for underground rail transport systems. The circuit is dominated by the tower of a testing bridge that can be tilted for testing towing locomotives on slopes with gradients of up to 35o. Welcome to the industrial zone at Staré Město near Frýdek-Místek and the premises of Ferrit, the main supplier to the ambitious project A new system of logistics and transport at OKD. NWR: A leader in local employment, local investments and local suppliers With its OKD and OKK Koksovny subsidiaries, NWR is the biggest employer in the Moravian-Silesian Region by a considerable margin, providing jobs for more than 18,000 people. The Group sustains many more thousands of jobs throughout the region via its supplier chain of more than 1,200 businesses that deliver services, technologies, spare parts and materials. Every year OKD invests around five billion Czech crowns in technology and occupational health and safety. In addition to its cooperation with international manufacturers such as Caterpillar, Sandvik and Deilmann- Haniel, OKD also collaborates longterm with regional manufacturers. One of these suppliers is playing a pivotal role in the project to modernise OKD s logistics and transportation: Ferrit, a company based in Frýdek-Místek. In past years we invested considerably into the core processes of mine development and mining, mainly through the initiative POP 2010 [Productivity Optimisation Programme]. We are now in a position to focus on supporting processes with considerable opportunities for improving our operational and cost efficiencies. The role of logistics in deep mining is crucial and affects numerous other operational areas, such as storing and handling materials, monitoring the movement and economic use of the materials, or safety. And safety always comes first, said Marian Weiser, the OKD manager overseeing the project. Czech manufacturer equips mines across the world Next year will mark Ferrit's 20th anniversary. With its focus on development, manufacturing, repairs, servicing and the sale of transport and handling technology for both deep mines and surface operations, the company is upholding the long tradition of Czech engineering for the mining industry. We are the biggest manufacturer of single-rail suspension mine locomotives in the world, says Jaromír Hlisnikovský, Ferrit s Commercial Director. In addition to its plant near Frýdek- Místek, where Ferrit employs approximately 300 people, the company operates a plant in Russia, a key export market for its technology, which. employs around 500 people. Along with its rising market share in traditional mining countries such as Poland, Ukraine and Kazakhstan, as 12

13 safety reclamations responsibility well as neighbouring Slovakia, Ferrit has gradually increased its presence in the dynamic Asian markets, particularly China and Vietnam. It has also started to work with partners in India. It is still early days in terms of modern mining technologies in India. And then there is the local mentality and the legislative system to understand, as well as bureaucratic obstacles to overcome. So it is not an easy task for European firms. Local miners only gradually make the transition from the room and pillar system to longwall mining. But in addition to providing solutions for transport and logistics, which is the key segment of our core export production programme, we also offer comprehensive and tailor-made equipping of mines, Hlisnikovský explained. Ferrit also supplies OKD mines with other technology. There is the hydraulic winch ZHN2000F, which is designed to move heavy loads along overhead rails and is capable of negotiating gradients of up to 30o, and a remote control suspension mining handler DMZ50F- RC, used as a towing vehicle, and the ensuring quick and flexible switching of instruments. Ferrit also manufactures locomotives and platforms for transporting materials along rack-and-pinion rails, or cog-rails, and regular rail tracks. The Darkov Mine successfully operates The company also sees potential in the Americas, particularly in Argentina and Mexico. Another very interesting and dynamic market is Turkey, where we are present in collaboration with Vítkovice Machinery Group. They are building a power generation plant there and we are equipping a neighbouring lignite mine that is to supply fuel to the plant, Hlisnikovský said. Ferrit: mine transport on tracks and overhead suspension rails The most important deliveries from Ferrit to OKD are locomotives for both ground and suspension rail tracks. The company has developed the suspended diesel-hydraulic locomotive DLZ210F for transporting heavy loads, expanding on the previous design of the DLZ110F. Thanks to its increased performance, the locomotive is playing a significant role in the project to containerise underground transport in OKD mines. The new locomotive offers a 40%- plus improvement in power output compared to the previous design, and can pull a train of containers weighling up to 24 tonnes up gradients of up to 30o. The new machinery will be used to transport both personnel and the largest mechanised roof supports, which weigh up to 40 tonnes, between coalfaces. The new locomotive will allow for transportation of container sets of up to 40 tonnes. electro-hydraulic handler ŠA-MAN-01, designed to power the hydraulic winch and lifting equipment. At the request of OKD the company developed several types of universal roadheading machines, called PSU. The models range in weight from seven to 10 tonnes, and are each capable of operating in mine works with different profiles. In addition to loading rock on to conveyor belts, the machine can also crush rocks into smaller chunks using a hydraulic hammer. An advantage of the machine lies in the fact that all types of shovels and hammers attach to the same arm, a funicular railway to transport personnel, contributing to the better comfort and safety for miners as they travel to and from sites along the mine s galleries. Further information about the company is available on the firm s website, The fact that the company operates globally is demonstrated by the six languages on the website, including Chinese. Marek Síbrt 13

14 economy interview technology Qualified people are key to the future of NWR Thanks to support from NWR, more than 30 mining apprentices were able to take their final exams at the Secondary School of Technology and Services in Karviná (Střední škola techniky a služeb v Karviné). It was some 20 years ago that the last apprentices passed final exams in a mining subject in the Czech Republic. Following the summer holidays, all the newly graduated apprentices took jobs at NWR subsidiary OKD, a.s. Starting this school year ( ), it will be possible to study mining for the school-leaving maturita (maturity exam) at the school from which the apprentices graduated. Additionally, OKD is further developing its cooperation with the Industrial Secondary School in Karviná (Střední průmyslová škola v Karviné), regarding a post Advanced-level course for employees, and with the VŠB-Technical University of Ostrava in respect of university-level education. Thanks to OKD, mining apprenticeships also returned to the town of Havířov in Mining education tradition Despite the lull in recent decades, the region boasts a longstanding tradition in mining apprenticeships. In 1894 a preparatory mining school was established at the Hohenegger Mine in Karviná. The beginning of the 20th century saw the gradual introduction of one-year advanced mining schools. In 1904 such schools were established in Silesian Ostrava (then known as Polish Ostrava) and in Orlová-Lazy. In 1905, the Vocational School for Miners (Odborná škola pro horníky) in Mariánské Hory started offering tuition in subjects ranging from mechanical and electrical engineering to mining law. And between the two world wars, known to Czechs as the First Republic, a unified Ministryissued curriculum applied for the two-year advanced mining schools, of which there were 11 in the Ostrava- Karviná mining district. The Ostrava-Karviná mining district saw the greatest upswing in mining apprenticeships after the communist takeover in 1948, when vocational apprentice training facilities (catering for larger numbers of apprentices), apprentice centres (for smaller numbers of apprentices) and vocational apprentice schools (also providing theoretical schooling) were gradually set up. By government order, the then state-owned OKD was made responsible for all that this involved and the recruitment of apprentices was conducted nationwide across what was then Czechoslovakia. The course structure and duration gradually changed in relation to technological developments, and the number of apprentices increased. In 1947 around 800 apprentices were studying in the mining district; there were 5,589 in 11 vocational schools in In the 1980s almost every vocational institution introduced senior-level secondary tuition in mining subjects. Compared to those in other industries, mining apprentices received preferential treatment and enjoyed many benefits such as pocket money, free clothing and free boarding. These advantages attracted children from poorer families to apply for places. 14

15 safety reclamations responsibility Before completing their studies, trainees went down the Darkov Mine to see the miners real working environment at first hand. In 1990, the government issued a decree banning anyone younger than 21 from working underground. This, in addition to the gradual phasing out of mining activities, was the first, and fundamental, step towards the decline and disintegration of the entire mining education system. During the school year, almost 9,000 apprentices were receiving an education at one of OKD's nine vocational schools (seven of them mining). Two schools in Karviná had more than 1,800 apprentices. The origins of secondary vocational mining training in the Ostrava-Karviná mining district go back to 1871 when the two-class Mining School was founded in the centre of Ostrava. Initially classes were held in the early morning hours to enable the pupils to work their mining shift. From 1912, the pupils were relieved from their working duties in the mines, meaning tuition could take place throughout the day. After World War II and the subsequent onset of the communist regime, the school underwent rapid expansion. The name of the school changed several times and the number of graduates increased in line with increasing coal production. After the Velvet Revolution in November 1989 and the subsequent dwindling demand for a mining education, the school changed both its specialisation and name. Subjects related to mining disappeared from its curriculum. At present the school mainly focuses on electrical engineering and similar fields. The Czech lands has a tradition of university-level mining education going back to the 19th century. The Mining School in Příbram was established in 1849 and in 1865 it became an Academy. As a result of major structural changes in the national economy after World War II, the school was moved to Ostrava in 1945 and became the University of Mining. In 1951, within the framework of this technical university, a separate Faculty of Mining was set up which later merged with the Faculty of Geology. This structure eventually gave 15

16 economy interview technology schools and universities, in effect substituting the authorities in this area. OKD is involved through its OKD Akademie programme a comprehensive project aimed at securing qualified human resources ranging from apprentices to university graduates for the company. Current OKD employees, either wanting to or in need of improving their qualifications, are also invited to take part. During their studies, trainees gain practical experience in surface operations of OKD mines as well as on field trips to the practice shaft in Staříč. A renaissance in mining apprenticeships Four years ago at the Secondary School of Technology and Services in Karviná, which for decades served as the traditional seedbed of employees for the local hard coal mines, OKD began a renaissance of vocational mining subjects taught at the school, specifically by introducing the mining fitter and mining electrician specialisations. Thanks to this initiative, the first qualified apprentices left the school this year, bound for jobs in OKD's mines. rise to the present Faculty of Mining and Geology of the VŠB - Technical University in Ostrava. Lack of qualified miners The Czech Republic currently lacks qualified miners, which is why OKD actively seeks to develop vocational training for mining in the Moravian- Silesian Region. The emphasis placed on miners' capabilities has a connection to the Productivity Optimisation Programme 2010 (POP 2010) programme, whereby the company equipped its mines with the most modern gateroad and longwall mining set technology worth nearly CZK 10 billion. In order to operate this machinery OKD requires highly qualified staff that the Czech educational system is unable to prepare. Insufficient technical education together with a lack of interest in this area is a problem which all industrial companies have to grapple with, we are no exception, said Chief Human Resources Officer of OKD Jarmila Ivánková. Although the recession means queues of jobseekers are starting to form in front of employment offices, companies agree on two main facts: there is a lack of technically educated people on the labour market and the present system of education does not reflect the needs of the Czech economy, which is traditionally based on industry playing an important role. Several companies affected by this dilemma have decided to actively tackle the situation by supporting technical subjects at secondary It has transpired that among pupils of primary schools and their parents there is great interest in mining vocations. The company has therefore, on similar terms to the Karviná cchool, started cooperation with the Havířov- Šumbark Secondary School, where last year two more classes of potential miners were enrolled. In the school year, a total of 125 future miners attended these schools. The number is expected to rise to up to 180 in the future. What makes the curriculum so appealing to young people and their parents? The future mining fitters and electricians receive a monthly stipend of CZK 1,000 from OKD, gain practical experience at the company's surface workplaces and during the summer period can make some extra money doing holiday 16

17 safety reclamations responsibility jobs there. But, first and foremost, after finishing school they obtain a secure job in a modern company with good prospects, which given that the Moravian-Silesian Region has one of highest levels of structural unemployment in the Czech Republic, is a big motivation. That for me was the biggest attraction. It is not at all easy to find a job in our region, let alone a well-paid one. With OKD I have the certainty that after finishing this course I'll be working with the most modern equipment at a major company for decent pay. In my opinion, this job has a future with good prospects. Here in Karviná they won't quit mining just like that, said Tomáš Siuda, a fresh graduate of the fitter vocational training course. Mining school-leaving exam In September the first students enrolled to study mining with the aim of graduating with the maturita after taking final exams at the Secondary School for Technology and Services in Karviná. This will bring us yet more of the qualified people that are indispensable to us, noted Ivánková. These pupils will be entitled to the same benefits as the mining apprentices but they will receive a higher stipend, of CZK 2,000. This new tuition level will fill the gap between vocational preparatory training for miners at secondary schools and the VŠB Technical University study programme in Ostrava, said school director Iva Sandriová,. The school has also introduced a three-year mining course comprised of evening classes, enabling current OKD employees to attain a maturita from exams in mining subjects. Support for mining engineers OKD's support for students is not limited to providing a secondary school level mining qualification from school-leaving final exams. Aware of its need for first-class, highly qualified specialists, the company continues to support students on post Advanced-level extension courses or technical subjects at the VŠB- Technical University, a traditional source of mining engineers. In addition to enjoying the same benefits as the apprentices and secondary school graduates, the future engineers receive a stipend of CZK 5,000 and expert assistance in preparing their seminars and writing their final theses. OKD intends to deepen its cooperation with the university, taking the initiative to demonstrate that hard coal mining holds good prospects now and in the future. Educational support in Poland As part of preparations at its development project at Dębieńsko in Poland, NWR s Polish subsidiary, NWR Karbonia, has started to support mining education locally. It has sponsored the opening of mining classes in a vocational and industrial school that is part of the Integrated School of Czerwionka-Leszczyny. The school received funds to set up an electro-technical workshop as well as the guarantee one condition under which mining classes are opened that pupils would be given practical work experience opportunities at surface mining facilities. On top of this, a motivational system for mining class pupils has been introduced to offer rewards good results and grades. Marek Síbrt NWR on LinkedIn In August NWR joined the LinkedIn social network for professionals. Companies can search for potential employees via LinkedIn, just as individuals can use their profiles to find employment. NWR s profile on LinkedIn features a brief presentation of its activities and a short description of its key products, thermal and coking coal, and coke. Anyone with a LinkedIn profile can become a follower of NWR. Visit NWR s website at and click the blue LinkedIn icon. 17

18 economy interview technology Poland's hard coal industry Poland has a long and proud tradition of coal mining with the origins of its industrial development linked to its sizable reserves of hard coal. Mining was prioritised during the country s communist period when miners were glorified as champions of a centrally planned industrial nation. Since coal mining was considered one of the country s most important sectors during this period, the companies within the industry were heavily subsidised and coal prices were regulated to keep them affordable. Poland s economic transition after the fall of communism would see the coal industry facing up to a situation of over-employment, low productivity and poor management, the legacy of which can still be seen today. During the formative years of Poland s communist era the country was producing about 190Mt of hard coking coal, falling to about 150Mt in 1990 from 70 operating mines. The drastic restructuring of the industry since the transition to a market economy has seen total production of hard coal fall further to 76Mt in 2011 from 32 active mines. Despite this falling output, Poland remains Europe s largest hard coal producer and a significant producer in the global context as well. In 2011, Poland accounted for about 40 per cent of Europe s (excluding Russia) total production and, with approximately 1.2 per cent share in the global hard coal output, was the world's ninth largest producer. Hard coal is extracted in two regions of the country: Upper Silesia and in south-eastern Poland, near Lublin. Up until 2000, coal was also mined in the Lower Silesian coal basin in the southwestern part of the country; however, due to geological hazards and high exploitations costs, the mines there have been shut down. Thermal coal represents the vast majority of hard coal mined and, together with substantial reserves of brown coal, are used to generate over 90% of Poland s electricity needs. Mid-volatile and semi-soft coking coal represents the remaining output of hard coal which supplies the steel mills and coking plants located mainly in the south west of the country. The process to transform Poland s coal mining companies into independent Polish hard coal production 250 Million tonnes Coking Thermal 0 Source: IEA

19 safety reclamations responsibility Gdańsk Szczecin Warta Wisła Gubin Odra Poznań Konin-Adamov Belchatów Warszawa Lublin Basin Bogatynia Legnica Wrocław viable businesses has been a long and often politically challenging endeavour. Many mines were initially closed whilst others were amalgamated into four or five larger entities. However the Polish state, under pressure from extremely strong trade unions, continued to heavily subsidise the sector throughout the 1990 s and the first decade of the 2000 s, shielding the industry from the realities of market forces and delaying a full and proper restructuring of the industry. Up until 2009 all of Poland s coal mining companies remained fully owned by the state treasury until Bogdanka, located in the Lublin Basin, became the first coal-mining company to be privatised when it listed on the Warsaw Stock Exchange. Poland s accession to the European Union around this time and the subsequent obligations to abide by state intervention rules has forced the treasury to speed up its restructuring efforts. The government now has a stated aim to fully privatise all coal-mining companies in the coming years. In accordance with these plans the next company, Jastrzebska Spolka Weglowa (JSW), was partly listed (33%) on the stock exchange in JSW would be regarded as one of the better-run mining companies in Poland with reserves of good quality coking coal and a well-established customer base of top steel makers. JSW is the largest coking coal producer in the EU, selling approximately 5 million tonnes in 2011 as well as substantial coking Lignite Hard coal Lower Silesian Basin Map of coal basins in Poland. facilities of about 3-4 million tonnes capacity. Two other companies remain under state ownership; Kompania Weglowa (KW), Poland s largest coal mining group with production capacity of nearly 40 million tonnes of thermal coal, and Katowicki Holding Weglowy (KHW) with a production capacity of 12 million tonnes of thermal coal. The government plans to list both of these entities on the stock exchange in the next 2 or 3 years but such ambitions will be largely dictated by the economic outlook and general market conditions. The realisation of a fully privatised coal mining industry therefore still faces many challenges. The task of effectively restructuring KW and KHW should prove much more difficult to accomplish compared to JSW or Bogdanka. These companies have very strong and influential trade unions whilst the efficiency of their operations have been questioned. It is often suggested that either or both companies could be merged with the already established JSW or Bogdanka. And since both companies are only producing thermal coal they cannot benefit from the higher margins that can be achieved by selling coking coal and coke. Katowice Upper Silesian Basin Kraków Wisła San These challenges not withstanding, the future of Poland s coal mining industry seems to be leading towards privately managed companies that respond to market forces. In this respect a number of external factors can be expected to impact the industry in the coming years. The thermal coal market in Poland faces increasing pressure from environmental targets being dictated from the European Union which seeks to have countries generate more and more of their electricity from non carbon sources whilst the coking coal industry will always be at the mercy of the performance of the steel industry. The fact that today Poland is importing up to 11 million tonnes of hard coal from outside the country indicates that the domestic demand is exceeding supply which should bide well for the future viability of continuing production in the country. Stephen Hough Market Analyst New World Resources 19

20 economy interview technology Putting among the pits Golf need not be a sport exclusive to the top ten thousand nor the preserve of rich and successful businesspeople, as conventional wisdom often has it. OKD, an NWR subsidiary, is confounding such assumptions with a recently completed reclamation project close to Karviná, the outcome of which is the unique and at the same time affordable Golf Resort Lipiny. The resort stretches across an area that had produced hard coal for decades, hundreds of metres below the surface, and now offers a view of active OKD mines set against the glorious backdrop of the Beskydy Mountains. Golf for professionals and beginners alike The site located between the Darkov and Karviná Mines, with a direct view of the ČSM Mine, where the impacts of previous coal mining activities were clearly visible until recently, was not originally earmarked as a modern golf resort 100% compatible with the requirements of a world-class venue. Reclamation works commenced as early as 1985, with the technical stage of reclamation completed in 2004, followed by grassing of the area the following year. The original plans had envisioned woods or arable use for the land. The decision to instead create a golf resort was taken towards the end of 2007, said Radim Tabášek, OKD Chief Mining District Development Officer. Of course, the new plan had to be reflected in a specific development plan, with the necessary landscaping. Work on the resort started in 2009 and a ceremony was held in April 2012 to mark the opening of the Master Course intended for experienced golfers, followed in August by a similar ceremony to open the Public Course suitable for novices wishing to take their first golfing steps. Ccompletion was delayed by floods in May 2010, which submerged more than 20 hectares of the site, with water levels rising as high as three metres in places. As a result, measures have been taken to ensure trouble-free operation of the resort even in case of heavy precipitation. Fruitful collaboration between miners and public The Lipiny resort is a perfect example of collaboration between the mining company, the public and the municipalities. The golf resort was built by OKD. The city of Karviná plans to create new trails for inline skaters and cyclists connecting the venue with the spa in the city district of Darkov, the château park in the city centre and the local magnet for water sports lovers, the Darkov Sea. Thus the area to the south-west of the city will be turned into an extensive recreational and leisure resort. The final design of any area to be reclaimed from mining and its subsequent utilisation are always decided by the councils involved, the potential alternatives are always discussed with the public and relevant civic initiatives, and all works are closely monitored by the appropriate environmental authorities. We always try to arrive at solutions that will be appreciated by people in their everyday lives, Tabášek said. Friendly pricing policy will bring golf closer to people What is it then that the 63 hectares of reclaimed land have been turned into? Experienced golfers will enjoy a nine-hole Master Course, at 3,567 metres ranking among the longest in Europe. On the other hand, complete 20

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