KGHM appeals for lower mining tax

The Polish government should cut down the country’s mining tax, Herbert Wirth, CEO of copper and silver mining giant KGHM, told news agency IAR after the opening ceremony of the company’s Sierra Gorda mine in Chile, where costs are some 40 percent lower than in Poland.

ABW searches offices of biggest coal miner

The Internal Security Agency (ABW) has searched the headquarters of Poland’s biggest coal mining firm Kompania Węglowa (KW) and the offices of one of its mines, the agency’s spokesperson Maciej Karczyński was quoted as saying by Polish Radio.

PGE may start mine construction in 2018

Poland’s largest power utility PGE plans to launch the construction of a hard coal min in Gubin in 2018, the company said in recent news release. The construction of a power generation plant on the site could then be launched in 2025.

Locked content Coal output and sale decreased in H1 2014

Poland’s Ministry of Economy, in its quarter report, informed that coal output in H1 of 2014 decreased by 2.8 million metric tons and currently amounts to 34.105 million tons. The sale of coal decreased by 4.3 million tons, amounting to 31.845 million tons. In addition, in H1 of 2014 coal reserves i...

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 ...

Locked content KGHM with lower results in Q2

Poland’s copper and silver mining giant KGHM recorded a consolidated net profit of PLN 683 million in the second quarter of 2014, the company said on Thursday. Analysts polled by the Polish Press Agency had expected the result to be PLN 595 million. The net profit declined by 38.5 percent year-on-ye...

KW agrees framework restructuring plan

Poland’s largest mining group Kompania Węglowa (KW), which is experiencing financial difficulties, said on Thursday that it has prepared the framework of its 2014-2020 restructuring plan. The main goals are to rebuild own capital by 2016 and to increase efficiency in 2017-2020.

Locked content KGHM gets loan from EIB

Poland’s copper and silver mining giant KGHM has obtained a loan worth PLN 2 billion from the European Investment Bank, the company said in a news release on Friday. The funds will be used to finance the modernization of the company’s smelting segment and for the development of the Żelaz...

Locked content Copper mining licenses rescinded

Environment Minister Maciej Grabowski has rescinded the Bytom Odrzański license that was granted to Leszno Copper, a company belonging to Miedzi Copper. “I’ve come to the conclusion that the procedures involved during the issue of the license had some drawbacks. … The decision-maki...

Locked content Chilean mine project ready for production

KGHM is banking on its Chilean mine, Sierra Gorda, to start operating in June. The mine is to become the Polish copper giant’s chief endeavor within the next five years. It is considered to be one of the world’s largest copper mining projects. According to a Bloomberg Businessweek interview with Her...