Locked content Kompania Węglowa in talks with investors

Kompania Weglowa is in talks with investors about their potential capital involvement in the company, Krzysztof Sędzikowski, its CEO said on Tuesday. “We asked more then 30 companies about their potential business involvement. We have a list of less than 10 companies with which we are discussi...

Locked content Coal mine Bogdanka to reduce employment

WSE-listed Bogdanka mining company will cut employment by 350 people before the end of 2015, on average by 145 annually, the company said in the management comment to its Q1 financial report. Bogdanka will not prolong temporary contracts and will send eligible employees for retirement. The plan is a...

Locked content UOKIK gives green light to mines takeover

Anti-monopoly watchdog UOKIK has given the green light for the takeover of a part of Kompania Węglowa assets by Spółka Restrukturyzacji Kopalń (SRK). After the deal is finalized, SRK will own KWK Piekary, KWK Brzeszcze, a part of KWK Sośnica, and a part of KWK Bobrek-Centrum. The transaction is a pa...

Locked content Main customer leaves JSW

Polish unit of steel producer ArcelorMittal has begun purchasing coking coal from overseas as its main supplier Jastrzębska Spółka Węglowa (JSW) stopped deliveries because of miners’ strike since late January, Reuters reported. ArcelorMittal Polska has been the main consumer of JSW’s. &#...

Locked content Tauron to analyze Brzeszcze mine situation

Tauron Polska Energia S.A has appointed a team whose job is to analyze the situation of the Brzeszcze mine, the company informed. Depending on the results of the investigation, Tauron will decide whether to buy the entire mine or just some of its assets. “The team that has been appointed on February...

Locked content Polish mining announces general strike to be launched on Monday

Silesian trade unions informed about a protest “of the whole mining” to start on Monday (February 2), RMF.FM radio reported. Miners will strike due to a failure of the talks between labor unions of Jastrzębska Spółka Węglowa (JSW) and its board held on Thursday in Warsaw. The board rejected the unio...

Coal Holding to build a mining site in Dolny Śląsk

Coal Holding, part of the Australian Balamara Resources Limited group, is planning to open a mining site in the Lower Silesia region. The construction works are estimated to cost $150 million and start once the company obtains the necessary license, most probably in September, Andrzej Zibrow, CEO of...

Locked content Siltech records profit despite mining crisis

First Polish private mining company recorded a net profit of PLN 300,000 last year. Despite the crisis in the sector, Siltech managed to sell over 170,000 tons of coal. “Fortunately, we took advantage of the good economic situation …  and we implemented necessary investment projects which allow us t...

Locked content JSW to create a subsidiary

Jastrzębska Spółka Węglowa (JSW), Poland’s coal mining firm is considering spinning off a subsidiary company incorporating its mines, the Polish Press Agency (PAP) reported. “If the trade unions do not approve the proposed austerity program, we will establish a new subsidiary company,” JSW CEO...

Locked content Tauron to buy Brzeszcze mine

Tauron is to be interested in purchasing Brzeszcze mine, one of Kompania Węglowa’s plants, under the condition that the output is profitable, according to Rzeczpospolita daily.”We have expressed an initial interest in buying the whole or a part of Brzeszcze mine’s assets, because i...