Nowa Kompania Węglowa to be created with delay

Amid the information that the European Commission may not approve Poland's plan of restructuring domestic mining, the Polish government revised its plans regarding establishing Nowa Kompania Węglowa, a vehicle that is to replace troubled Kompania Węglowa mining company. "The EC signaled there is high risk of launching a case against Poland due to illegal public aid," the Ministry of the State Treasury said in a statement, confirming previous Reuters' reports. Initially, the new company was to be created by the end of September, however, the state's treasury announced since that it "will be formed in a capital structure that will not be questioned by the EC," the entire venture will be delayed. First sketches of the new draft have already been made, according to the ministry. The ministry stressed that the delay is also caused by constantly "changing macroeconomics conditions," such as coal prices.