Despite talking a lot about Polish coal export inverting to the eastern border, nobody wants to claim responsibility of selling to Ukrainian DTEK 100,000 Mt of coal. Neither LW Bogdanka, which tests the water for more than a year now, neither KHW nor JSW. Also Weglokoks, main Polish coal exporter (working on behalf of PGG) denied shipping recently any volumes of coal to Ukraine. Because of quality parameters it surely wasn’t any energy group, so which one of local coal traders was it?
End of the story with Makoszowy mine being taken over by KWK Siersza. Negotiations broken, Mines Restructuring Company decided that the only tenderer that made an offer was not serious enough.
About serious projects: kangaroos from Prairie Mining just bought from NWR their mine project, which means that now they have two: Lublin Coal Basin based Jan Karski mine and Silesian Coal Basin coking coal mine Debiensko. Cost of transaction was estimated for 2m PLN.
In the mid-September, Polska Grupa Gornicza recorded 400m PLN of loss. M=According to Rzeczpospolita newspaper sources, most probably that amount will be doubled by the end of the year.
Rising international prices of coking coal (200-220 USD/Mt) made investors to go bonkers: JSW’s stocks are rocking sky high above 60 PLN (less that nine at the beginning of 2016). Meanwhile, Polish coal prices are not that enthusiastic to follow international trends – by the end of July, they were at a level of 311 PLN/Mt.