Locked content KHW miner net loss at 109.5 mln in H1

The ailing state-controlled coal miner KHW recorded a PLN 109.5 mln net loss in H1 2015,  KHW said in a press statement. EBITDA amounted to PLN 396.1 mln and investment outlays totaled PLN 316.64 million. The negative net result is related to “ongoing declines of coal prices and severe competi...

Locked content Kompania Węglowa net loss at nearly PLN 750 mln

Ailing miner Kompania Węglowa recorded a PLN 746.7 million net loss in H1 2015, said Deputy Treasury Minister and government plenipotentiary for mining, Wojciech Kowalczyk. The company’s EBITDA reached PLN 240.4 mln, PLN 21 million more than expected. Coal extraction fell by 15.8 percent compa...

Locked content JSW mulls longer working week

WSE-listed JSW, a mining company, said on Monday it is considering extending the working week into Saturday to improve efficiency. Edward Szlek, CEO of JSW, said he wants to increase production by 1.2 million tonnes per year from the most effective coal faces by adding an additional working day. ...

Locked content JSW miner to layoff 1,700 employees

WSE-listed miner JSW reduced employment by 1,200 workers in H1 and expects to cut its headcount by an additional 500 employees in 2015 and another 1, 200 next year as a result of miners retiring or using disability benefits, the firm said in a press statement The company headcount is expected to sta...

Locked content Bogdanka to lay-off 400 people this year

WSE-listed Lubelski Węgiel Bogdanka will reduce employment by 400 by the end of the year, the mining company announced on Friday. It also might cut investment expenditures in years 2016-2020 by PLN 250 million per year.  Bogdanka has been undergoing restructurization due to unfavorable market condit...

Locked content Corpses of two missing miners found after two months

The bodies of two miners who went missing due to a quake in Wujek mine on April 18 were found on Monday evening, the media reported. “This is sad news, but it shows that thanks to the determination of the rescue team and the entire staff it was possible to find the missing miners’ bodies...

Locked content Bogdanka eyes production at 8.5 mln

WSE-listed coal miner, Bogdanka said that due to the coal industry’s problems it will cut production by 7.5 percent to 8.5 million tons, below its productive capacity. The cut in the production is caused by “an increasingly difficult market situation tied to continued significant price p...

Locked content ArcelorMittal will buy less Polish coke this year

The world’s largest steel producer, ArcelorMittal decided to purchase 300,000 tons less of Polish coke that it had assumed before due to shortages of supplies caused by miners’ strike at JSW mines, the company informed the Polish Press Agency on Monday. “This year, we will buy 300,...

Locked content PLN 800 mln loss of Polish coal mining sector

The Polish coal mining sector generated a net loss of PLN 800.6 million in January-April 2015, compared with PLN 452.4 million in the same period last year, according to the Industrial Development Agency (ARP). “Such a result hasn’t been recorded in a long, long time. The situation is ve...

Locked content Bogdanka to make cuts due to restructurization

Zbigniew Stopa, president of Lubelski Węgiel Bogdanka, announced in a letter to employees that the company will undergo restructurization due to unfavorable market conditions. Limiting work to five days a week, pay and hiring freeze are just a part of the plan, which also includes searching for new ...