Locked content Tauron to invest PLN 1 bln in coal mining

WSE-listed utility Tauron will spend PLN 1 billion on investments in the coal mining sector until 2020, the company’s CEO Filip Grzegorczyk said. “We want to use up to 70 percent of our own fuel to produce energy,” he added. In 2015 that level stood at 40 percent. The investments include the recentl...

Locked content Prairie takes over Dębieńsko coal mine

Australian Prairie Mining Limited is taking over from New World Resources (NWR) on a project to start mining coking coal at a site closed in 2000 in Dębieńsko in Czerwionka-Leszczyny (Silesia). In a statement sent on Tuesday, Prairie announced that it will continue the current project of NWR. It wil...

Locked content Poland to finance JSW with PLN 500 mln in 2017

Poland’s Energy Ministry will finance a coal miner Jastrzębska Spółka Węglowa (JSW) with 500 million sum in 2017, deputy Energy Minister Grzegorz Tobiszowski informed. “Funds could come in stages and draw both on previously discussed plans for new debt and equity. The money would go to i...

Locked content KHW lands contracts of 10 mln tons of coal for 2017

KHW, the ailing state-owned coal miner, has signed contracts for some 65 percent of its 2017 coal output (expected at 10 million tons), deputy CEO Krzysztof Miska informed on Monday. “This year the decline of coal prices has been stopped and a growth tendency has appeared. Next year KHW expect...

Locked content Sejm passes coal mining bill – PLN 7 bln for restructuring

The Sejm, the lower house of the Polish parliament, has accepted an amendment to the coal mining bill on allocating PLN 7 billion for the restructuring of its ailing coal sector versus an initial budget of PLN 3 billion. During Wednesday’s voting session, 258 MPs voted for the measure, 142 wer...

Locked content JSW may earn up to PLN 800 mln on share issue

Coal producer Jastrzębska Spółka Węglowa (JSW) plans to raise some PLN 500-800 million from a potential share issue. “We are talking about an issue of at least PLN 500 million, but the sum could fall into PLN 500-800 million range,” CFO Robert Ostrowski announced. “The share issue ...

Locked content Bogdanka aims to sell over 9 mln tons of coal in 2016

Coal mine Bogdanka, a unit of state power group Enea, announced its plan to produce and sell 8.5-9.0 million tons of coal in 2016, with some 150,000 – 250,000 tons in coal inventories by the end of the year. In H1, Bogdanka produced net 4.285 million tons of commercial coal, which is 10.1 perc...

Locked content KHW to get a PLN 500 mln contribution from Enea and Węglokoks

State-controlled power company Enea, state-run mine Węglokoks and investment entity TF Silesia will invest in coal mine Katowicki Holding Węglowy’s (KHW), making a total pool of PLN 700 million, the companies informed. Enea agreed to contribute PLN 350 million, while Węglokoks will invest PLN ...

Locked content TF Silesia will invest PLN 200 mln in KHW

Polish investment entity Towarzystwo Finansowe Silesia (TFS) became the third investor for state-controlled coal mine Katowicki Holding Węglowy’s (KHW), the Energy Ministry said on Twitter citing minister Krzysztof Tchórzewski. The sum of planned investment stands at PLN 200 million, a message...

Locked content KGHM posts 75% drop in profits in H1 y/y

Poland’s copper and silver mining giant KGHM recorded a 75 percent fall in consolidated net profits in H1 2016, reaching PLN 296 million, in comparison with a PLN 1.19 billion one year earlier, the company said in a statement. The Group’s revenues reached PLN 8.46 billion, while the figure stood at ...