With the closing of numerous coal mines will disappear from the market for a total of about 15 percent. national extraction or approx. 10 million tonnes of coal. Will it be enough to save the rest?
The good news is that after many months of fluctuations in government
He decided to throw into deep water, and gave the board of JSW
Carbon green light to mine closure “Krupiński.” Mine,
which wyfedrowała in 2015. 200 mln zł losses, will go to the end of the SRK
January 2017. extracts mainly coal and JSW wants to focus on
more expensive and more perspective coking coal.
The decision to refer the mine to the Company Restructuring of Mines,
where it will be closed, it was taken without a formal agreement with trade
unions in JSW. The Board has announced, however, that no one will lose jobs, miners
with “Krupiński” go to other mines. For now, unions are silent, until
publication of the text (that is, the night of 15 to 16.08) mining “Solidarity”
He has not issued any statement on the matter.
You do not have to be a genius to see the relationship between the decision to
closing “Krupiński” and signed a few days earlier on July 29
agreement between JSW and bondholders financing the company or PZU, PKO
BP and BGK. “been established schedule of activities to be
undertaken by JSW in connection with the restructuring process in the period until the conclusion
restructuring agreement “ – reads
company.
“Krupiński” produces more than 2 million tons of coal. At the news of
the closing share price of JSW increased from 25 to 29 zł, and you have to remember,
that much of the miners are still shareholders of the firm.
For SRK will go so two mines of JSW – “Jas-Mos” and “Krupiński.”
Polish Mining Group
Out of the PGG arouse mixed feelings. To the closing of mines there
join for the time being “Sośnica” despite his poor financial perspectives. Board and
the government decided to step down and give it a trial period. To the end of january
2017 mine has come out to zero. If you do not come to some manipulation
accountants are the chances of this happening are slim, but the extension
existence mine has to save face trade unionists – they can tell the miners that
They are fighting for every lockable mine. Earlier, the Coal Company (ie,
predecessor PGG) for SRK already hit mines “Makoszowy”, “Anna” and
“Centre”.
President PGG Tomasz Rogala says that the trial period
“Sośnicy” will not affect the company’s results, which by the end of 2017. Has come out to zero.
Energy Minister Krzysztof Tchórzewski said that it is
crucial for the acceptance of PGG rescue plan by the European Commission. For now
Brussels is still learning plans for transmission by the Polish government. It has not quite
trouble, because they are constantly updated with additional mines for
closure. From the point of view of officials of the Commission would therefore be wise to
wait until it all blows over and there will be (or not) some results
restructuring.
the worst situation is in the Katowice Coal Holding
The company desperately needs a recapitalization, the
the amount grows every two months about 200 million zł. Currently, it is said already about 900 million zł.
The government announced the creation of KHW new company under the name of Polish Coal Holding,
I would invest in Enea, Węglokoks and a third person. They talk about
Society of Financial Silesia, state investment vehicle, which is
already a shareholder in PGG. But there was trouble – as he told us
a spokesman for the Central Statistical Office, in June TF Silesia was
GUS included in the public finance sector.
From a legal point of view, this decision makes it very difficult
Society any investment in mining. GUS spokesman added that the government has taken
action to allow recovery of the TF Silesia status of “normal”
commercial companies.
KHW only one mine – “Mysłowice- Cheerful” is today
profitable. “Murcki-Staszic” rumored to be profitable. Ongoing discussion with
unionists on the transfer to the SRK traffic “Slask” mine “Wujek”
likely to be a museum.
The situation is difficult, because the government is slowly ending financial
reserve, after that you can reach. Energy companies are burdened further
investments, Enea may yet also involved in the construction of power plant in
Ostroleka, also plans to plant using coal gasification.
And in addition unionists of “Bogdanka” very sharp protest
against their involvement in the rescue of the company Silesian mines. Deputy Minister
Energy Grzegorz Tobiszowski in April claimed that his statements
on the involvement of “Bogdanka” KHW were wrongly interpreted and no
such plans. But in response to the unions of Lublin company he wrote, “I want to avoid a situation in
Bogdanka which remains on the sidelines of mainstream sector changes
energy, which in my opinion will lead to a resumption of price war
between coal producers, the war that no one is needed. “
Bogdanka so far successfully competed with Silesian
mines, pushing them out of the market until the big sale of coal from
piles ordered by the spring of 2015. by the then president of KW, Krzysztof
Sędzikowskiego.
The question is, which minister Tobiszowski considers “price war” and what
for normal competition, in which a company with lower costs wins. If
integration of mine is intended pricing in the comfort of ministerial offices,
so as to ensure the viability of the mines, it would end up this intervention of the Commission
European and spectacular disaster.
Rafal Slide
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