Polish coal mine Bogdanka ups coal extraction by 4.2% y/y to 4.25mn tonnes in H1

By bne IntelliNews July 4, 2014

Polish blue-chip mining firm Bogdanka extracted 4.25mn tonnes of hard coal in H1 of 2014, which is up by 4.2% y/. In Q2 alone, its output inched down to 2.02mn tonnes from 2.05mn tonnes a year before, which the firm attributed to focusing on higher quality coal till its new coal processing facility ZPMW is launched.

Bogdanka's president Zbigniew Stopa said that after this launch, which is due in Q4 of 2014, output volumes should rise, translating into better financial results. Earlier, the company planned to increase its output by at least 1mn tonnes y/y in the entire 2014, to reach 9.3-10.0mn tonnes.

Stopa also announced that in H1 of 2014, Bogdanka sold 4.33mn tonnes of coal, up by 13.6% y/y, while in Q2 alone, sales inched down to 2.10mn tonnes.

The company underlines it is focused on implementing its strategy for 2013-2020 announced in June of 2013, whose key assumptions include completion by 2015 of the investment programme with a view to doubling the extraction compared to 2011 and a two-fold increase in its operating resources in the Lublin Coal Basin, and thus extension of the mine's operating life to around 2050.

Bogdanka extracted 8.35mn tonnes of hard coal in 2013 vs. 7.79mn tonnes in 2012 and 5.84mn tonnes in 2011.

Related Articles

Overlooked carbon costs spell financial trouble for Western Balkan coal power plants

Ten coal-fired power plant projects across the Western Balkans are facing serious financial problems as they have not taken properly into account carbon costs, according to ... more

Poland eyeing second LNG terminal

Gaz-System has selected a contractor to carry out a feasibility study on the construction of a second Polish LNG terminal, the state-owned gas grid operator said on March 27. Poland has recently ... more

Latvia heads off Russian gas mischief with legislation on strategic companies

The Latvian parliament passed amendments to national security and commercial laws on March 23, handing the state the power to block the sale of companies considered strategic. The legislation will ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss