JSW signs long-term contract for delivery of coke

Image : JSW

Jastrzębska Spółka Węglowa (JSW), based in Silesia, will deliver coke to Austrian companies Importkohle GmbH and voestalpine Rohstoffbeschaffungs GmbH. The coal mining company signed a contract with the two Austrian partners for an estimated PLN 1.37 billion.

The contract will be in effect for 2016-2021, with the possibility to prolong the agreement for another five years. The transaction is to be settled in euros. Prices will be decided upon on a semi-annual or quarterly basis.

Besides this announcement, in the last 12 months, an annex to an existing contract with the purchaser was signed for the the delivery of coke in 2014-2017. The estimated value of that annex is PLN 560 million.

JSW is one of the most important producers in Europe of high-quality type 35 (hard) coking coal. In 2013, the company extracted 13.6 million tons of coal.

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