Mining sector with PLN 150 mln net loss in Q1

The Polish mining sector recorded a net loss of about PLN 150 million as of the end of the first quarter of 2014, Deputy Economy Minister Witold Pietrewicz said in parliament on Thursday.

 

Mining companies extracted about 18 million metric tons of coal in Q1, he said. Production costs stood at PLN 303 per ton.

 

The sale price of coal declined from PLN 292 per ton at the end of 2013 to PLN 288 per ton at the end of Q1 2014. In the case of coal for energy purposes, the price fell from PLN 262 to PLN 257.5.

 

Pietrewicz said that after Q1 there were 7.5 million tons of unsold coal in Poland, 1 million tons more than at the end of 2013.