In a remarkable first-quarter performance, Montenegro’s Coal Mine Pljevlja posted a profit of €6.28 million—up 70% compared to the same period last year.
Despite delivering less coal to Thermal Power Plant Pljevlja than planned, the mining company capitalised on higher average prices and better-than-contracted coal quality, boosting revenue to €18.79 million—surpassing both projections and 2024 figures.
Costs also fell, with expenses 5.1% below plan, further enhancing the bottom line.
Coal production reached 454,800 tonnes, 5.7% under plan but still ahead of 2024 levels.
Sales to the power plant totaled 389,980 tonnes, slightly below expectations, partly due to temporary outages in January and March.
The energy content of delivered coal (10,418 kJ/kg) exceeded contract benchmarks by nearly 8%, reinforcing the company’s upward trajectory.
Now fully owned by EPCG, the mine continues to turn operational challenges into fiscal wins, following a €15 million profit in 2024.
