Poland’s JSW Buys Knurow Coal Mine

Poland’s JSW, the biggest coking coal producer in the European Union, agreed to buy the Knurow Szczyglowice coal mine from the Kompania Weglowa mining group for PLN 1.49 billion ($490 million). JSW said that Knurow Szczyglowice had output of 2 million metric tons (mt) in the first half of 2013, an amount equivalent to one-third of JSW’s total production of 6.84 million mt. Both state controlled companies are suffering from record low coal prices.