POLISH COAL MINING RESULTS 2015 [PT.1]

“It could have been worse” – that is the proper comment for domestic hard coal mining results for 2015. Industry recorded almost 1.9bn PLN loss (154m PLN less than a year ago), and while being in a deep crisis and receiving 716.1m PLN of governmental subsidies, it still paid 6.5bn PLN of various impositions.

Figure below presents hard coal mining sector financial result, expressed in million PLN.

2015fin

Despite moving 8 mines to SRK and limiting workforce by 10,000 employees , the whole industry managed to keep the total production at a stable level. Steam coal production fell by 1m Mt YOY, while coking coal production increased by 0.7m Mt YOY (values below expressed in million tons).

15prod

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