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JSW coal mine cannot sell its coal

APA - Austria Presse Agentur
opublikowano: 09-09-2005, 15:40

Warsaw (Puls Biznesu) – Zaklady Koksownicze Zdzieszowice (ZKZ), a coke producer whose 88 percent belongs to Mittal Steel Poland, stopped buying coal from Jastrzebska Spolka Weglowa (JSW), a state-owned coal mine.

Warsaw (Puls Biznesu) – Zaklady Koksownicze Zdzieszowice (ZKZ), a coke producer whose 88 percent belongs to Mittal Steel Poland, stopped buying coal from Jastrzebska Spolka Weglowa (JSW), a state-owned coal mine.

“ZKZ does not realise our contracts and fails to buy the contracted coal”, Leszek Jarno, JSW CEO said. Steel plants owned by Lakshmi Mittal cut capacity by 30 percent. In result, two coke sides have been closed. 800,000 tonnes of coal have not been bought from JSW, and till year-end it may grow to 1.5m tonnes – this is the annual capacity of middle-sized mine. In addition, coke coal prices are falling.Leszek Jarno believed there is no danger for JSW for the time being but the company is looking for alternative ways to sell coal. It has increased exports. “I’m not afraid of threat to JSW because of Mittal”, Janusz Olszowski, the CEO of the Mining Industrial-Trade Chamber calmed down. ZKZ is an important client to JSW. In 2004, it bought 5.1m tonnes of coal, or 60 percent of JSW's inland sales. According to “Puls Biznesu” sources, representatives of JSW and Mittal Steel Poland are to launch talks soon.

Poland/Enterprises/Metals and Mining

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Podpis: APA - Austria Presse Agentur

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