Poland May Split Coal Assets Into Good and Bad Mines

The state-owned coal miners, including Kompania Weglowa, Europe’s largest hard coal producer, lost PLN 1 billion in the first half of the year, and more than two-thirds of the country’s mines lose money on each ton of the coal they sell. “From a business point of view, this would be the most reasonable solution — to close down mines that are not profitable or have no chance of being profitable in the future,” said Miroslaw Taras CEO of Kompania Weglowa. The company runs 14 mines, of which four are profitable.