On Friday Enea launched a takeover bid for LW Bogdanka’s stocks. Poznań-based energy group wants to acquire 66% of LWB shares and make LZW-based coal producer an important element of the company’s self-efficiency strategy. Few days before that LWB’s Management Board announced that after an audit by KPMG the company is convinced that Enea’s offer is fair (67.39 PLN per stock). Quite a surprising statement, taking into consideration that when not so long ago the company was approached with similar offer at a price of 100 PLN per stock the shareholders were reluctant to sell them.

Monday’s protest in Brzeszcze gathered up not only all the main labor unions, but also some politicians and quickly the whole event turned into anti-PO demonstration. Decision about moving Kompania Węglowa to TF Silesia and suspending the negotiations between SRK and Tauron were the main topics of speeches given by Piotr Duda, Dominik Kolorz, Bogusław Ziętek (unions), Beata Szydło (PiS), Tomasz Kalita (Zjednoczona Lewica) and Paweł Kukiz (Kukiz’15).

According do Moody’s, at least half of the world’s coal isn’t worth digging out of the ground at current international prices. The situation affects both coking coal, with prices at a level of 89 USD/Mt and the decreasing Chinese demand, and the steam coal pushed out by natural gas in power production, with prices are going bellow 50 USD/Mt. Since 2013 many Polish experts alarms the public opinion that due to extremely high costs of production, Poland should either increase import or look for alternatives. Now it is official: coal production all over the world is unprofitable and the industry just have to wait for better economic situation.