Coalmines may soon get vital financial injection

At the end of May, losses sustained by Kompania Węglowa (KW) stood at zł. 575 million, which is more than the coal sector reconstruction forecast for the entire year. Reasons for this include decreasing demand, falling coal prices, and the postponing of the decision on mine liquidation. Although the decision is to be made soon, for the moment, KW president Maksymilian Klank, has declined to disclose any details. Deputy finance minister, Andrzej Szarawarski, stated, "The treasury ministry is prepared to offer KW a capital injection of liquid assets worth zł. 400 million, by the end of July, under condition that KW designates five mines for liquidation, so that with fewer mines, financial backing could go a lot further." (Puls Biznesu, p. 7) K.Z.