NKW/PGG: KEEPING AN EYE ON THE TIME

With limited information coming out from Ministry of Energy and Kompania Węglowa regarding their plans of restructure the EU largest hard coal producer, every small leak is electrifying for public. In last few days media were reporting autumn’s news on the official name of Nowa KW – Polska Grupa Górnicza. With the ambiguous new approach to the whole project let’s hope that the “name issue” wasn’t the most important problem that ME was trying to solve.

Upbeat in his statements, Krzysztof Tchórzewski said that the main goal is to make sure, that PGG will start with clean sheet and won’t be generating loss. In his opinion it will be hard, but achievable. The agenda envisages moving 11 KW mines to Węglokoks-owned PGG by the end of H1 2016, but Tchórzewski hopes to do it even earlier, by April-May.

In chasing the goal of profitability, KW’s CEO Krzysztof Sędzikowski wants to decrease costs of production to the level of 200-220 PLN/Mt (like in 2007-2008), and to do so, Grzegorz Tobiszowski has to take part in long negotiations with the labor unions and other employees, to modify the structure of miners salaries.

All in all, it looks like people working on NKW/PGG project dismantled the “KW problem-watch” to the single cogs, but prefers to play the role of clock repairman discreetly, asking us to keep an eye on the time in patience.

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