Poland's PGE does not rule out including hard coal mines in group
WARSAW – Poland's largest utility PGE is open to the possibility of including restructured hard coal mines in its group, PGE's CEO Marek Woszczyk said on Monday.
Asked if he envisaged including hard coal in PGE's value chain, he said: "If we are able to build this value chain according to a similar model as with lignite, then why not.
"However, restructuring is key here," he told reporters.
PGE owns a lignite mine near its power plant in the central city of Belchatow.
The treasury ministry, which oversees the mining sector, has already offered state-controlled utilities a chance to take over unrestructured, loss-making mines but the companies had shown little interest.
So far, only a special purpose vehicle involving state-controlled utility Tauron has filed a token-sum bid for one hard coal mine, Brzeszcze, conditional on prior restructuring of the mine.
The state mining restructuring firm SRK, which now owns Brzeszcze, said on Saturday that it was hard to see the bid as "respecting the interest of the state treasury".
Last week, the Polish treasury ministry confirmed it had withdrawn a rescue plan for the ailing state-owned coal miner Kompania Weglowa (KW) because the European Commission was unlikely to approve it.
Kompania is currently working on a bridge financing deal through prolonging a "standstill" agreement with the banks, aiming to win more time to find investors.
Analysts said the government would probably not allow KW's bankruptcy before parliamentary elections set for October, because it needs the votes of miners in the Silesia region in the south of Poland.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOMDeveloped to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
