Poland’s coal mining industry is facing a severe crisis. Jastrzębska Spółka Węglowa (JSW), the country’s main producer of coking coal, is fighting for survival. Other mining companies are also struggling. 'None of the major problems of Polish mining have been solved,’ says Bogusław Ziętek, head of the Sierpień 80 trade union.
Professor Andrzej Karbownik, who recently resigned as chairman of JSW’s supervisory board, told WNP that political will is needed for restructuring. 'If that political will appears, we need a solid restructuring program. Unfortunately, no such program exists,’ he said. He noted that changes began with amendments to the mining law, but proper financing and competent managers are still lacking.
Ziętek is blunt about the current situation. 'JSW is approaching bankruptcy and no one is even trying to sugar-coat reality. No one except ministers in Donald Tusk’s government, who remain in high spirits, blind to the threats facing the industry.’ He points out that despite the president signing amendments to allow state loans over a month ago, no money has reached JSW. 'The only thing that happened was the dismissal of the head of the Industrial Development Agency.’
Promised aid never materialized
In April and early May, the Ministry of State Assets promised JSW assistance of 2.9 billion złoty via the Industrial Development Agency. 'Today no one talks about it,’ says Ziętek. Mining leave for JSW workers starts only in July and covers far fewer miners than eligible, reducing savings for the company. JSW cannot access financial markets because it is effectively bankrupt. 'Almost all its assets – the mines – are pledged and may soon be seized. The company is selling off remaining assets like Jastrzębskie Zakłady Remontowe and Przedsiębiorstwo Budowy Szybów.’
JSW’s CEO Bogusław Oleksy confirmed in an interview with WNP that the company is seeking external financing. 'We are talking with several potential arrangers on global markets to prepare an instrument structure and verify financing possibilities. Key to this process is profitable operations that ensure capital repayment,’ he said.
Other mining companies also in trouble
Z iętek notes that the planned consolidation of coal companies has not materialized. 'The Ministry of State Assets could not even handle the simple merger of Węglokoks Kraj with the Polish Mining Group. Węglokoks Kraj has one mine in liquidation – why operate it separately when the Polish Mining Group already has a liquidation department?’ He accuses the ministry of making the process deliberately difficult to prevent worker relocation.
Former deputy prime minister Janusz Steinhoff told WNP that restructuring should be handled by one minister. 'Now we have the Ministry of Climate and Environment, the Ministry of Energy, and the Ministry of State Assets. That’s total absurdity. Responsibility is diluted,’ he said. Ziętek adds: 'This fragmentation of competence is paralyzing decision-making. Meanwhile, Lubelski Węgiel Bogdanka is getting worse. At the last Trilateral Commission meeting, alarming signals emerged that Bogdanka will soon be in the same or worse shape than JSW.’ He warns: 'The government does nothing. Ministers are lazy and incompetent, and the prime minister does not want to see the problem until it explodes. He will see it soon. People see what is happening and are furious. Those still in the industry will soon take to the streets.’
Źródło: WNP.PL, Fot. PGG / Bożena Sieja
