Coming this week in Dziennik Gazeta Prawna (Daily Legal Newspaper) Polishcoaldaily Editor comment on wasting human resources in Ministry of Energy: why deputy minister Grzegorz Tobiszowski is in charge of negotiations with European Commission, when by his side he has two experienced colleagues: Wojciech Kowalczyk and Michał Kurtyka.
Makoszowy mine, producing steam coal even though for almost year and a half now the facility is in Mines Restructuring Company (SRK) for liquidation, soon might be put up for a public tender. Ministry of Energy (ME) probably is tired with paying for infusions, while the mine itself is struggling hard to survive.
First of many weekely comments from Polishcoaldaily Editor exclusively for Trybuna Gornicza, in a new column called “Point of view”. Topic no. 1 – elaborated version of our former report CHEAP COAL? PRICEY COAL? – IT’S BAD EITHER WAY. Articles available for Polish speaking readers only.
European Commission will be pleased, after the last week’s announcement that from all 11 PGG mines Sośnica most probably be the one that will be shut down in 2017. The ultimatum given to the facility would be a mission impossible even for Tom Cruise with a pickaxe. Following Sośnica, now the similar fate will come to Slask mine from Katowicki Holding Weglowy, as the Ministry of Energy will be establishing PHW. The rest of the mines will be combined to two mines Myslowice-Wesola and Murcki-Staszic+Wujek+Wieczorek. By the way, it is quite thought-provoking, that two mines of PHW will need half of the money (900m PLN) that 11 mines of PGG needed to start its operations…
Apart from being an official partner and occasional comments from our Editor, Polishcoaldaily will have from now on weekly column in Trybuna Gornicza and its online counterpart, nettg.pl. Starting this week – a short comment on recent price increase and its impact on domestic steam coal production.
Latest update of CIF ARA and FOB RB international coal price markers. After whole week of recording above-60 USD/Mt results, on friday index for coal imported to Western European ports again fell slightly bellow the line and now shows 59.91 USD/Mt.
What could have happened, if Kompania Weglowa was at some point of its existence (more specifically: right before the two waves of international coal-boom) moved… to a private investor? Two scenarios written by Polishcoaldaily Editor exclusively for Jagiellonski24.
Two new features from last Tuesday on Polishcoaldaily: CIF ARA Futures, representing markers for standardized forward contracts for steam coal in Western Europe’s ports and Daily international indices, presenting the latest CIF ARA and FOB RB prices. We hope you will find it useful!
Aversion to private investors in Ministry of Energy (ME)? In Autumn we’ve heard that Australian Balamara wanted to purchase Makoszowy mine, which is still generating loss in Mines Restructuring Company (SRK), but the whole plan just dispersed in the media. Later, the same ministry was not too favorable to sell Brzeszcze to private Synthos, which wanted to take it over when no one else did. Currently, ME is looking for an investor for Polski Holding Weglowy, but only among state-owned entities. Yesterday we’ve learned that in 2015 German HMS Bergbau, through its Polish company Silesian Coal wanted to acquire or at least lease some of Krupinski mine infrastructure, but the deal was blocked by JSW’s CEO. Instead of being really restructured, now the mine will be moved to SRK.
Last week’s comment from Polishcoaldaily Editor for Trybuna Gornicza on current situation in Jastrzebska Spolka Weglowa. Find out what recently happened and what may the next few months bring to the largest coking coal producer in Poland.
The whole Polish coal industry is complaining for quite some time now on low coal prices and literally praying for some bounce off, which with the high production costs would allow them to record better results of unit sales. There it came, since April the prices are rising, but in the long term – will this trend be a salvation or doom for the coal producers?
Polishcoaldaily Editor talked on Wednesday in Polskie Radio 24 on the subject of EU Commission decision towards restructure plan for Polska Grupa Gornicza (KW) and Polski Holding Weglowy (KHW). Polish readers only.
Importing annually 33m Mt of hard coal, Turkey decided to impose a import duty on coal importers to “reduce the negative effects of imports on the Turkish economy”. According to the new law those exempt from the new duty are EU countries, members of the European Free Trade Association and a few other countries, mostly being coal importers. Among the whole, only Poland could be taken for a serious coal exporter. A gift for Polish producers?
LW Bogdanka renewed its contract for fuel deliveries with EDF, burning approx. 7m Mt of steam coal per year. Because the French company is trying to dispose its Polish coal assets, the new deal is valid only until the end of next year. Rumors say that Ministry of Energy is trying to convince EDF to stay in Poland as long as it is possible, or at least until one of the energy groups (most probably PGE) will restore its decent cash flow and will be able to purchase the most valuable and strategic power plants. It seems like the government is not thrilled with the idea that some of the EDF-owned power plants will be taken by Chinese (using Czech EPH as an up-front).
In August, for the first time in one and a half year CIF ARA prices exceeded level of 60 USD/Mt and met there with FOB Richards Bay. First forecasts were showing, that this level is likely to stay over next few months, but recent drop and other signals show, that it might just as well being a momentary deviation.