Privatization of coal mines continues to drag on

According to Deputy Economy Minister Jacek Piechota, if the government decided to privatize the most valuable mines to day, weaker enterprises from the sector would have to declare bankruptcy. " We have to restructure Kompania Węglowa and lead it to a point where it will be able to handle its liabilities. That is when we can start thinking of pr ivatizing the sector," said Piechota. He also presented a new concept to im prove the situation of Jastrzębska Spółka Węglowa, and proposed that it be merged with Koksownia Przyjaźń, which would later be joined by a strategic investor. However, the new financier would not be LNM Holdings, the main in vestor in Polish Steel Mills (PHS). Piechota also announced that LNM should first prove itself a trustworthy investor before another company will join its group. (Puls Biznesu, p. 4) A.K.