According to the Montenegrin Statistical Office, the production of lignite amounted to 1.55 million tons in 2021.
The majority of coal (1.37 million tons) was used for electricity generation at thermal power plant Pljevlja, while the available quantities for final consumption amounted to 36.4 thousand tons in 2021, of which 21.3 thousand tons was used by industry.
Montenegrin coalmine Pljevlja recently started exporting coal to Serbian state-owned power utility EPS, a move heavily criticized by many, due to low price at which the coal is sold. Pljevlja coalmine is selling coal with lower calorific value (8,000-8,500 kJ/kg) to EPS and the price is based on the calorific value, not per ton. Base price of coal with 8,000 kJ/kg is 28.8 euros. The base price of coal which is delivered to thermal power plant Pljevlja is 27 euros and it has calorific value of 9,200 kJ/kg. If such coal was delivered to EPS it would have cost 33.15 euros per ton. This refutes the claims that the coalmine is selling coal to Serbian power utility below market price. Pljevlja coalmine should sell 300,000 tons of lignite to EPS in 2022.
Pljevlja coalmine recorded a net profit in the amount of some 4.42 million euros in 2021, significantly lower compared to 13.1 million euros profit in the same period last year. According to the financial report, coalmine’s sales revenues reached 49.5 million euros at the end 2021, which is by 2 % more than in 2020. At the same time, operating expenses rose by 30 %, reaching 43.5 million euros.
