The cost of restructuring
Poland expects the costs of restructuring its ailing coal mining industry to be 2.3 billion zlotys (US$631.24 million) in 2015 – 2016. According to Reuters, the restructuring plan includs shutting down four coal mines owned by Europe's biggest coal producer Kompania Weglowa.
The government said in a statement that Kompania Weglowa's remaining nine mines would be transferred to a special purpose company owned by Polish coal trader Weglokoks.
Poland's state-owned coal mines have been struggling for months to return to profit as they cope with low coal prices, weak demand and high operating costs.
Edited from various sources by Sam Dodson
Read the article online at: https://www.worldcoal.com/coal/07012015/costs-of-restructuring-polands-coal-industry-are-high-1724/
You might also like
American Resources expands Carnegie 2 production
American Resources has announced that it has expanded production at its Carnegie 2 metallurgical carbon mine in Pike County, Kentucky, by adding a second operating section.