Brzeszcze mine handed over to restructuring vehicle SRK
15:27
State-controlled Kompania Weglowa (KW) miner has signed an agreement to hand over its unprofitable Brzeszcze mine to Poland's mining restructuring vehicle Spółka Restrukturyzacji Kopalń SRK, KW said in a statement.
On Thursday, SRK took over KW's Makoszowy mine. The handover of these two mines allows for taking advantage of the coal restructuring act, which introduces pay leaves and severances for miners from troubled mines. Power group Tauron expressed interest in the Brzeszcze mine in January, but only after its handover to SRK, which would potentially reduce Brzeszcze's cost base. KWK Brzeszcze is one of four Kompania Węglowa mines initially tagged as unviable and earmarked for liquidation under the first version of the governmental restructuring program.
