Poland’s largest coal mining company Kompania Weglowa (KW) said that it would cut non-wage costs by 8%. The company is implementing a savings program necessary because of falling coal sales revenue. The economy ministry had earlier asked mining firms to reduce cost by 5% this year. KW’s spokesperson Zbigniew Madej said the company had a net loss for the first half of the year. The coal miner is, however, counting on a small net profit in the whole of 2013, which is expected to come from both cost cuts and increased coal sales in the autumn-winter season. Because of lower than expected profit in the H1 of 2013, Kompania Weglowa has delayed payments to its suppliers. One of them, Centrala Zaopatrzenia Górnictwa (CZG), has filed a motion for the bankruptcy of KW. The coal giant owes CZG 3 million zloty for supplies.

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