January income of mines falls by PLN 100m

APA - Austria Presse Agentur
opublikowano: 21-03-2006, 15:48

Warsaw (Puls Biznesu)- Despite cold winter the Polish mines noted decrease in their income in January.

Warsaw (Puls Biznesu)- Despite cold winter the Polish mines noted decrease in their income in January.

According to the Ministry of Economy, the net income of the mining sector fell from PLN 154.9m to PLN 46.6m (EUR 11.9m) at the end of January. The reason are falling coal prices, which on average are 13.6 percent lower than a year ago. Mines sold in January 13 percent more coal than in the same period of 2005. However, inventories rose to 3.8m tons, the yearly production of two mines.

“It is not that bad. The most important is that they have income”, Janusz Olszowski, the CEO of the Mining Industry and Trade Chamber commented.

According to Wieslaw Blaschke, the head of the fuel market unit at PAN think-tanks, believes that the mining companies did not take advantage of high coal prices in the past to cut costs and employment. The Ministry of Economy also disapproves of the fact that mines did not reduce employment. Today, 123,000 people work in this sector.

(PLN 1 = EUR 0.257)


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Podpis: APA - Austria Presse Agentur