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 JSW signs PLN 864 mln deal with ArcelorMittal

WSE-listed coal and coke group JSW has signed a PLN 864 million deal on coke supplies to ArcelorMittal  between January 1, 2015 and December 31, 2017, the firm said in a statement. If the contract is not terminated by end-December 2016, it will be extended by another two years, and the same mechanis...

Locked content Jastrzębska Spółka Węglowa not preparing shares issue

Poland’s largest coal extracting company Jastrzębska Spółka Węglowa (JSW) said on Thursday that it is not working on issuing shares in order to obtain funds, the ISBNews agency reported citing the firm’s statement. JSW claims this way of raising capital is not “justified” for...

Locked content ARP and JSW Koks to create joint venture

State-controlled Industrial Development Agency (ARP) and JSW Koks, a subsidiary of Poland’s largest Coal extraction company Jastrzębska Spółka Węglowa (JSW), applied to the Polish anti-monopoly watchdog UOKiK for establishing a joint venture in order to develop an investment worth around PLN 1...

Locked content Coal company JSW will reduce employment

Coal extraction company Jastrzębska Spółka Węglowa (JSW) requires several hundreds million savings. The company will reduce the number of employees and is aiming reduction of mining costs to USD 80 per ton within two years, while mining efficiency is to improve to 900-1000 tons per employee, said Ed...

Locked content Gov’t to build electrical power and heating plant in Silesia

The governmental Industrial Development Agency (ARP) and state-controlled energy company, JSW Koks will construct an electrical power and heating plant worth PLN 185 million in Radlin (Upper Silesia). “The government’s priority is to support industry in Silesia. The new role of the ARP f...

Locked content JSW miners came back to work, CEO resigns

All the miners of Jastrzębska Spółka Węglowa (JSW) came back to work on Monday as per the agreement reached between the trade unions and the company’s management board on Friday. Mining has been suspended since the strike was launched on January 28. Resuming work at JSW’s mines was a con...

Board of JSW strikes deal with its miners

After over two weeks of protesting and a whole night of negotiating the board of Jastrzębska Spółka Węglowa (JSW) and the company’s trade unions reached a memorandum of understanding on Friday. What is more, the firm’s CEO Jarosław Zagórowski announced his resignation under three conditi...

Locked content EuroRating revises JSW rating

The EuroRating agency has reduced the credit rating for Poland’s mining company Jastrzębska Spółka Węglowa from B+ to B- with a continuous negative perspective. According to the agency’s estimates, JSW may record more than PLN 1 billion in losses in 2015 and if it does not commence minin...

Locked content Miners’ protest at JSW gets physical

The Jastrzębska Spółka Węglowa miners’ strike and related negotiations have sparked a physical altercation between police and miners. Rubber bullets and a water cannon were used by law enforcement to block the entrance to the company headquarters. About a dozen people suffered injuries. The mi...