Posted on 21 Dec 2023
Jastrzebska Spolka Weglowa (JSW) has declared force majeure on account of a fire at its KWK Pniówek mine on 6 December. The Polish coking coal miner has estimated the resulting production loss in 2024 at 350,000 tonnes.
It is currently not possible to specify the full impact of the incident on the future prospects of the JSW Group, the firm says in a stock exchange filing seen by Kallanish.
The firm saw increased costs and lower revenue push it into a loss in the third quarter (see Kallanish passim). Nine-month-through-September external coking coal sales were flat on-year at 4.8 million tonnes, with output also flat at 8.2mt. Exports accounted for 33.9% of sales volume versus 31.8% a year earlier. Coke sales and output each totalled 2.5mt, each flat on-year.
Source:Kallanish
