Igor Frantskevych

Lubel Coal Co. (UK) Ltd.'s strategy is to create a profitable coking coal mining company through development of the Lubelska 1 and 2 License areas (the 'Lubel Coal Project'). These licences are part of the Lvov-Volyn coal basin in western Ukraine. Commercial production is currently expected to begin in 2014. The new mine, once constructed, will benefit from its close proximity to existing infrastructure, the availability of a local, skilled underground coal mining workforce and a favourable location for coal exports. The development plan for the Lubel Coal Project currently includes the construction of a modern, underground mine and coal processing plant capable of mining and processing up to 5.2 million tonnes of ROM coal into 4.15 million tonnes of high-quality, washed coking coal annually. With mineable resources estimated at 162 mt in the Lubelska 1-2 License Area, the Company believes that the Lubel Coal Project will allow continual ROM production at an average rate of 4.96 mtpa for 25 years. In August 2009, the Company completed a Bankable Feasibility Study, which includes detailed engineering design, aimed at advancing the Lubel Coal Project towards construction and production.

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Lubel Coal Co. Ltd. operates as a coking coal mining company. The firm through its development of the Lubelska 1 and 2 License areas and these licences are part of the Lvov-Volyn coal basin in western Ukraine creates a profitable coking coal mining company. The company is headquartered in Kiev, Ukraine.