Carried out by DMT Consulting, the study categorized the reserves as hard coking coal that could yield around 186 million tons of marketable reserves.
New World Resources is looking for funding for the estimated two-year feasibility stage of the project.
The company has approached Moelis & Company UK to assess it on the process.
Located in the Upper Silesia coal basin of Poland, the project includes development of an underground mine to exploit coking coal reserves in Debiensko.
New World Resources has secured a 50-year mining license in 2008. However, the project was suspended in 2012.
DMT has been appointed in 2013 to carry out a pre-feasibility study, to re-estimate the project reserves and evaluate alternative development options.
Image: Debiensko coal mine in Poland. Photo: courtesy of New World Resources Plc.
