Coal giant KW is stuck in a rut

"I do not remember such a bad situation in the mining sector. This is dangerous for the economy, as it might shake the country's energy safety," said Wieslaw Blaschke from the Polish Academy of Sciences (PAN). In his opinion this is particularly dangerous because Poland is a European supplier of coal and its position could be undermined. This concerns plans orignally envisaging the sale of 17.1 million tonnes of coal to the EU, but already decreased to 16.3 million. "In September KW was unable to meet the terms of contracts for the supply of coal," said Michal Sobel, president of Weglokoks, an intermediary that sells KW coal. This will result in penalties for Weglokoks, but the company should still end the year in the black. Some sector representatives blame KW's former president Maksymilian Klank for the situation, because he apparently did not carry out investments necessary for mining deeper deposits of coal. (Puls Biznesu, p.4) M.M