Locked content Poland to convert part of KHW’s debt into shares of PGG

Poland plans to convert 30-35 percent of Katowicki Holding Węglowy PLN 1.4 billion debt into shares of the merged Polska Grupa Górnicza (PGG)-KHW, deputy Energy Minister Grzegorz Tobiszowski said, although he admitted that such idea will be hard to accept for the banks involved in the transaction. S...

Locked content PGG-KHW merger approved by labor unions

All labor unions at Katowicki Holding Węglowy (KHW) have approved the merger with Polska Grupa Górnicza (PGG). “We have an agreement. This opens a new, very important stage: talks with subsequent stakeholders,” deputy Energy Minister Grzegorz Tobiszowski said. Talks with investors have already start...

Locked content KHW-PGG merger partially approved by labor unions

Some of the KHW labor unions have signed the agreement that will allow two state-owned coal miners Katowicki Holding Węglowy (KHW) and Polska Grupa Górnicza (PGG) to merge. The rest of the unions have till Wednesday morning to make their decisions regarding the deal. Deputy ENergy Minister Grzegorz ...

Locked content Poland wants to reduce coal output by 65 mln tons in 2017

Poland wants to reduce coal output of country’s mines to 65 million metric tons from 70 million tons in 2016, the Energy Minister said. The ministry also said it is working on the program for the coal sector for years 2016-2030. It plans to conclude the work at the end of Q1 2017. According to...

Locked content PGG will need PLN 3 bln investments – energy minister

After merging KHW with Polska Grupa Górnicza (PGG), within two years, the new giant will need some PLN 3 billion for investments, energy minister Krzysztof Tchórzewski said. “Our discussions lead to a conclusion that such company would need investments exceeding PLN 3 billion. It’s a big chall...

Locked content Poland “determined” to merge KHW with PGG by March

Deputy Energy Minister Grzegorz Tobiszowski, said that the government is “determined” to carry out the consolidation process of troubled state-owned miner KHW with its peer PGG by the end of March. “We can’t allow KHW to become insolvent to both its employees and contractors,” Tobiszowski said...

Locked content PGG records increase in profits, plans to trim costs

Poland Mining Group (PGG) reported a positive financial result in December, the company said in its Twitter statement on Friday. “For the third consecutive month, PGG recorded a positive financial result, earning [profits] on each ton of coal sold,” part of the statement read. In December of 2016, E...

Locked content New coal mine to be built in Poland — Energy Minister

Poland’s energy minister, Krzysztof Tchórzewski, has indicated that his government plans to build a new coal mine by 2019 in Poland, the Polish press reported on Monday evening. He announced that a new tender has already been released for the mine’s construction. “We need to start building a new min...

Locked content Poland to merge state-controlled coal mines

Poland’s Energy Minister Krzysztof Tchórzewski said that state-owned coal mines KHW and PGG should be merged. “Such a merger will ensure that KHW mines can continue to function and that miners will have stable employment,” he said. The merger will also result in synergies in technical, market and fi...