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Poland planning to export coal to Ukraine

Staff writer ▼ | December 16, 2015
Poland is planning to sell its hard coal stockpiles to Ukraine in order to raise cash to inject liquidity into the country's struggling state-owned coal miners, development minister Mateusz Morawiecki, said Monday.
Poland coal
Poland   To raise cash to inject liquidity
"There is a coal deficit in Ukraine. We are working on selling our excess coal there," Morawiecki told reporters.

Morawiecki, who is in charge of the new Polish government's economic development policy, did not say what type of coal he was referring to.

Low coal prices and high production costs saw the state coal mining sector record a net loss of Zloty 1.67 billion ($420.5 million) in the first three quarters of this year. At the end of September the state miners had 5.76 million mt of coal stockpiled, according to government figures.

All of the miners are facing liquidity problems, especially the European Union's largest miner, Kompania Weglowa (KW). It employs 40,000 workers in its 11 mines, which mainly produce thermal coal.


 

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