Brown Coal Mine In Bulgaria For Sale

Business description

General information:
- this particular brown coal mine is located in Bulgaria and have a volume, as per the last drillings of 2008 up to 1.5M MT
- the concession for the mining is given in 2005 and is valid for 15 years, extendable with another 25 years
- the mine use an open-mining ("on the service") excavation technology, no need of shafts or underground mining
- employees at the moment: 55, working on 2-shifts basis
- yearly excavation and sale is at the moment is about 25 to 35.000 MT/year - depend on the market demand
- the total estimation of the mine, the whole business, the real estate and all machinery included in the offer is: 3.5 M € (negotiable!)

Coal specifications:
- ash content: 15 to 30%
- moisture: 9 to 12%
- sulphur content: 1.8 to 2.3%
- calories: 3800 to 5500 Kcal/kg

Fractions and market prices after coal separation:
- class 0-20 mm 40 €/MT
- class 20-40 mm 70 €/MT
- class above 40 mm 90 €/MT

We need a fresh LOI (Letter Of Intent) on the letterhead of the interested client, including the details of the proposed coal mine
and signed&sealed by the nominated person in order to negotiate the proposed deal and is fully authorized or on behalf of the
company to sign, seal & execute the buy-sale.

Please be advised that before yard visits we like to sign this preliminary documentation as follows:
- Sale-Purchase Agreement (SPA) with exact procedure for the buy-sale
- Banking Comfort Letter (BCL) of the buyer have to be presented to us, stating - the buyer, have the mentioned in the SPA,
funds, free of any liens, encumbrances etc, legally owned and freely transferable to us
- The BCL have to be issued by a prime bank - TOP 25 and if not the case - to be confirmed by TOP 25 bank

Please be advised, that a joint- venture (JV) with 49% equal to 1.7 M € will also be reviewed!

Property information

Real Estate:

Real Property Included

Living accommodation:

own villas and resort

Location:

In Bulgaria

Premises details:

Concession for 15 years, renewable and extension possible with another 25 years.

Other information

Expansion potential:

up to 1.5 M MT of brown coal

Planning consent:

depend on the investor

Competition / Market:

The mine is number 5 in Bulgaria!

Support & training:

available

Reasons for selling:

owner like to retire !

Trading hours:

15

Furniture / Fixtures value:

$600,000 (included in the asking price)

Inventory / Stock value:

$5,000,000 (included in the asking price)