Locked content JSW recorded net loss of PLN 3.1 bln in 2015

Jastrzębska Spółka Węglowa (JSW), Poland’s largest coke producer, recorded a PLN 3.1 billion net loss in 2015, of which PLN 2.83 billion was due to impairments, a report read. In 2014, the company recorded a loss of PLN 354.1 million. JSW said that it faces the risk of losing liquidity. “...

Locked content ARP and PIR to support JSW

State-run Industrial Development Agency (ARP) and Polish Investments for Development (PIR) may acquire a minority stake in subsidiaries included in Jastrzębska Spółka Węglowa (JSW), according to unofficial information by Puls Biznesu daily. Puls Biznesu reported that ARP is likely to temporarily pur...

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 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...

Locked content JSW signs agreement with trade unions

Ailing coal producer JSW has reached an agreement with its major trade unions to cut some of its employees’ benefits to avoid the risk of going under, the company said on Wednesday. This deal, together with agreements signed with the unions earlier this year will result in JSW labor cost cuts ...

Locked content ING wants JSW to redeem bonds

ING Bank Śląski has demanded from coal mine Jastrzębska Spółka Węglowa (JSW) an earlier redemption of the miner’s bonds valued at PLN 26.3 million ($6.93 million) and $13 million, the media reported. The lender scheduled the earlier redemption for September 21. In July last year, JSW signed fu...

Locked content ING presses JSW to buy back its bonds

Commercial lender ING Bank Śląski, the only private debtholder of Polish troubled coking coal producer Jastrzębska Spółka Węglowa (JSW), is pressing the miner to buy back some of its bonds in the near term, Puls Biznesu daily reported on Friday quoting sources close to the bank. The miner asked its ...

Locked content KW and JSW limit energy consumption

The two Polish coal mining companies Kopalnia Węglowa (KW) and Jastrzębska Spółka Węglowa (JSW) limited their energy use,  by turning off some machines which are not absolutely crucial for coal extraction or safety measures, their press offices informed. The Polish electrical grid company, Polskie S...

Locked content JSW maintains its 2015 output target

WSE-listed miner JSW produced 7.7 million metric tons of coking coal in H1 2015 and has maintained its 2015 coal output target of 16.4 million tons, the company said on Thursday. The company said that the bulk of its production in the first half of the year was the coking coal, which stood for 5.4&#...

Locked content JSW asks its debt holders not to redeem bonds

Poland’s coking coal miner JSW asked its bond holders to abstain until October 31 from demanding earlier redemption of the company’s bonds, Reuters agency reported. The bond holders have the right to demand a redemption of their bonds as JSW failed to issue bonds on foreign markets. In 2...