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 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...

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 Coal prices to stay the same next year – JSW

WSE-listed coal and coke producer JSW doesn’t see coke and coal prices to increase next year, its CFO Robert Kozłowski said, as the company is prepping for a meeting with the unions representatives to discuss measures necessary to keep the company afloat. “The key is for receipts and spending to be ...

Locked content JSW scraps bond issue

Coking coal producer JSW issued a statement on Monday saying that it has decided to withdraw from an earlier planned eurobond issue due to the present market situation. The company’s management said that the decision was made after “a series of meetings with selected institutional investors in the U...

Locked content JSW workers vote against management

In a “sounding out” referendum, the employees of coking coal producer Jastrzębska Spółka Węglowa (JSW) voted against the company’s management, the Polish Press Agency reports. The company’s authorities declared the vote illegal. The employees claim that the management board no longer has trust and s...

Locked content JSW chooses banks for Eurobond issue

Coal mining company Jastrzębska Spółka Węglowa has chosen Credit Suisse, JP Morgan, ING Bank and PKO Bank Polski as partners for its new Eurobond issue. The banks will serve as global coordinators and bookrunners. At the beginning of August, JSW issued 70,000 bonds worth PLN 700 million and 16,370 b...

Locked content JSW upgrades forecast

Coking coal producer Jastrzębska Spółka Węglowa (JSW) expects to extract 13.8-14.0 million metric tons of coal this year, according to a recent announcement from the company. The updated forecast includes the results of the Knurów-Szczygłowice mine acquired this year The company plans capital expedi...

Locked content JSW cuts down investment plans

Coal mining group Jastrzębska Spółka Węglowa (JSW) will cut down its capex for next year from PLN 1.8 billion to PLN 1.4 billion, the company’s CEO Jarosław Zagórowski was quoted as saying by the Polish Press Agency. JSW’s capital expenditures for 2015 had originally been set at PLN 2.2 billion and ...

Locked content JSW with PLN 253 mln net loss

Mining company Jastrzębska Spółka Węglowa (JSW) recorded a consolidated net loss of PLN 253 million in the second quarter of 2014. Analysts polled by the Polish Press Agency had expected the loss to be PLN 253.8 million. The company’s operating loss came in at PLN 292.7 million compared to a market ...