New Tauron board eager to invest in mines

On Thursday, the entire board of managers at Tauron Polska Energia was replaced, according to the media the new board is willing to purchase assets of Polish coal mines. "In the present conditions on the commodities market, acquiring mining assets may be a good investment opportunity, which will allow Tauron to strengthen its position as a strong energy-fuel holding," Tauron said late on Thursday. New chief executive Jerzy Kurella told Puls Biznesu daily on Friday that the takeover of Brzeszcze mine is important for Tauron and should be carried out "as soon as possible". Bartlomiej Kubicki, an analyst at Societe Generale, believes the overhaul at Tauron's helm was politically motivated and may threaten the interests of minority shareholders, Reuters reported. "The previous board of Tauron was one of the best boards of utilities in Poland," said Kubicki. "It was fired because it did not want to 'invest' in mines," he concluded.