Locked content PGG with PLN 2.5 bln CAPEX

State-owned miner Polska Grupa Górnicza PGG plans to spend PLN 2.5 billion this year on investments, with half of the funds being earmarked for launching 50 new mining walls, the company announced. “Today the situation of the company is stable, the company does not generate losses, on the contrary, ...

Locked content PGG signs PLN 2.2 bln coal supply deal with Tauron

WSE-listed electricity provider Tauron signed a PLN 2.15 billion deal with coal miner PGG on coal supplies for the 2018-2021 period, Tauron said in a market filing. “The price of coal was determined for the first annual period of the contract, while in subsequent years it will be indexed based on th...

Locked content PGNiG, JSW, Tauron, PGG sign methane production deal

WSE-listed, state-owned companies PGNiG, JSW, Tauron, and PGG signed a framework agreement to develop methane production from coal beds. PGNiG alone plans to spend PLN 300 million within the next three years on the project. The companies hope to increase domestic natural gas production, reduce the c...

Locked content PGG to be turned into joint-stock company in 2018

State-owned miner Polska Grupa Górnicza (PGG), will become a joint-stock company at the beginning of 2018, the company said in a statement. It currently operates as a limited liability company. The decision was approved by all of the PGG shareholders and proper motion has been filed in registry cour...

Locked content PGG not to meet 2017 production target – Tchórzewski

Poland’s largest coal miner, state-owned Polska Grupa Górnicza will likely fail to meet its production target for this year set at 32 million metric tons. However, it should exceed the 30 million tons mark. “Daily output is growing, I think the output will exceed 30 mln tons, but hard to say h...

Locked content PGG with PLN 8 mln net profit in H1

State-owned coal miner Polska Grupa Górnicza (PGG) had a PLN 8 million net profit in the first half of 2017. The company had PLN 83 million net profit, which was offset by the assets acquired from the Katowicki Holding Węglowy (KHW) which came in with PLN 75 million loss. The EBIDTA result for the e...

Locked content PGG with PLN 1.217 bln bond issue

Coal producer Polska Grupa Górnicza (PGG) has issued bonds worth PLN 1.217 billion. The funds will be used to pay off the debt of the recently acquired Katowicki Holding Węglowy (KHW). The bonds have been sold in three tranches, with the longest maturity in 2028. Terms of the issue include a signifi...

Locked content PGG not interested in IPO at this moment – CEO

State-owned coal producer Polska Grupa Górnicza (PGG) is focusing to optimize its operations, and is postponing IPO for a later date, company’s CEO Tomasz Rogala said. “IPO is in the plans, however we’re focusing on other things at this moment. Floating on the WSE will be the next step,”...