Locked content PLN 1.2 bln loss recorded in Poland’s coal mining sector

Poland’s coal mining sector posted a PLN 1.20 billion loss on coal sales, in comparison with PLN 1.51 billion in the corresponding period of 2015, the Energy Ministry informed. A report shows that the sector’s net loss improved to just PLN 152 million compared to PLN 1.63 billion in the ...

Locked content Enea wants to increase its coal reserves by 200-350 mln tons

Coal miner Bogdanka, a unit of power group Enea, expects to increase its recoverable coal reserves by 200-350 million tons of coal if it obtains a mining license for Ostrow deposit, the company informed in a statement. Currently, Bogdanka owns 230 million tons of coal. Bogdanka could thus extend its...

State-owned utilities to finance PGG coal group

On Tuesday, coal group PGG signed an agreement with the largest coal company in Poland and Europe – Kompania Węglowa (KW). The agreement was the last stepping stone needed for PGG to start its operations. It will be funded by state-controlled utilities.

Locked content JSW raises more than PLN 1 billion

The deputy Energy Minister, Grzegorz Tobiszowski, confirmed Jastrzębska Spółka Węglowa’s (JSW) plan of divesting select assets to the amount of PLN 1 billion. “It is important that we engage the means we want to raise from investors, i.e. over PLN 1 bln,” Tobiszowski said. Listed c...

Locked content Nowa Kompania Węglowa to be created by mid-2016

Nowa Kompania Węglowa, a vehicle that is to replace troubled Kompania Węglowa mining company, will be established by mid-2016, according to deputy energy minister Grzegorz Tobiszewski. The previous government initiated works on the new venture, and the new administration will continue it, although t...

Locked content JSW mine receives financing proposal

WSE-lister coal mine JSW has received a financing proposal concerning investments at its Krupiński mine from Silesian Coal, a unit of German commodities firm HMS Bergbau, the Polish Press Agency quoted a statement by Silesian Coal. The HMS Bergbau group has no intention of buying the mine, the state...

Locked content Watchdog approves takeover of Bogdanka

Polish state-controlled utility Enea said on Monday that Poland’s anti-monopoly watchdog UOKiK has approved Enea’s takeover of coal mine Bogdanka. Enea said the approval means that all conditions for the purchase of Bogdanka shares by Enea have been met. On Friday, state-controlled Enea ...

Locked content Successful offer for Bogdanka: Enea closer to acquiring the mine

This morning, state-controlled Enea prolonged subscriptions for LW Bogdanka mine’s shares, however the number of subscriptions has already reached the minimum necessary to conduct the merger, the company informed in the afternoon. The shareholders at the mine subscribed to 21.9 million papers,...

Tauron with preliminary deal regarding Brzeszcze

Tauron Polska Energia, the only bidder for Brzeszcze mine, has reached a preliminary deal with Poland’s mining restructuring vehicle, Spółka Restrukturyzacji Kopalń (SRK), a company press release read. In line with which, Tauron will purchase the mine for “a symbolic one złoty.”...

Locked content JSW reaches deal with bondholders

Bondholders at Polish coal producer Jastrzębska Spółka Węglowa (JSW)  will not demand early repayment of the firms’s bonds and will continue negotiations on the state-controlled miner’s restructuring, JSW informed. All bondholders including PKO BP , PZU and BGK decided that they will con...