April 4 (SeeNews) - Montenegro's coal mining company Rudnik Uglja [MNG:RUPV] said on Monday it has agreed to export 300,000 tonnes of coal to Serbian state-owned power utility Elektroprivreda Srbije (EPS) in 2022.
Rudnik Uglja will soon provide details about the price of the coal, CEO Milan Lekic said in a press release following a meeting with EPS investment and development manager Jagos Gomilanovic.
The calorific value of coal in which EPS is interested ranges from 7,500 to 8,000 kJ/kg, which puts the commodity inside the range of lower-quality coal, Lekic said.
"What I have to state is that through this cooperation we will provide a market for the so-called lower quality coal," he noted.
In January, Rudnik Uglja's management proposed to gradually shut down mining activities and switch to cement production as part of the country's commitments to reduce greenhouse gas emissions. Montenegro joined the Powering Past Coal Alliance (PPCA) in 2021 and started preparing a national energy and climate plan envisaging the phase-out of coal production by 2035.