The state has been wondering for several years now whether to list or not coal companies. Meanwhile, the mines have to invest in order to keep their capacity which today amounts to 90m tons of coal annually. According to the Ministry of Economy, the sector needs to invest PLN 2.28 billion this year. The investments will be mainly financed from the mines’ own funds (PLN 1.9 billion). The rest are credits amounting to PLN 171m and money from the National Fund of Environment Protection (PLN 29.7m). No budget money will be transferred to coal mines this year.
Experts believe, this year coal mines will manage to cover investments from their own funds. Later on their situation may worsen.
“That’s why privatization plans should not be delayed”, Janusz Olszowski, the CEO of the Mining Chamber commented.
(PLN 1 = EUR 0.258)