Poland’s JSW has lowered its coal production forecast for 2024

Polish coking coal producer Jastrzebska Spolka Weglowa (JSW) has adjusted its production forecast for 2024 to 13.07 million tons, down 3% from previous expectations, due to fires at two of its mines. This is reported by S&P Global.

“The revised coal production assumptions take into account recent events related to the declaration of force majeure and production difficulties at Pniowek and Budryk mines, as well as the current analysis of production capacity at Bzie as a result of geological conditions identified during mining operations,” the company said.

JSW added that the revised plan also takes into account the opening of six new longwalls in May and June 2024. The company currently operates 23 longwalls.

Earlier, JSW Deputy CEO Adam Rozmus said that coal production in 2024 would not change compared to the previous year and would amount to 13.5 million tons.

Last year, JSW produced 13.51 million tons of coal, 10.9 million tons of which was coking coal.

In the second quarter of this year, JSW reduced coking coal sales by 14.1% compared to the same period in 2023 – to 2.27 million tons. Its production in the period amounted to 2.31 million tons, down 14.4% year-on-year and 4.1% compared to Q1 2024. The average selling price of coking coal in PLN decreased by 11% quarter-on-quarter.