Poland’s Weglowa Faces Tough Times

Kompania Weglowa, the largest mining company in the EU, had a net loss of $110 million at the end of August, Rzeczpospolita reported. The information was confirmed by Kompania Weglowa spokesperson Zbigniew Madej. The losses were partially blamed on problems with transporting coal. According to the available data, the company had a loss of $74 million for the first half of 2013. It is unclear what the full year results will be, Madej said, as the company is working on a financial restructuring plan.