News Companies Jastrzebska Spolka Weglowa 522 27 November 2024
Coal production increased by 6.4% q/q
In the third quarter of 2024, Polish coking coal producer Jastrzebska Spolka Weglowa (JSW) increased sales of coking coal to external consumers by 12% compared to the previous quarter, to 1.8 million tons. This is stated in the company’s press release.
Coal production in July-September this year amounted to 3.05 million tons. This is 6.4% more than in the second quarter of 2024.
“Coal production is growing quarterly, but the actual figures are still below the plan. We also face market challenges and high production costs. I am convinced that the recent strategic transformation plan of JSW SA will allow us to overcome these difficulties and put us on the path to sustainable development,” said Richard Janta, President of the Board of JSW SA.
Coke production in the third quarter increased by 11.6% quarter-on-quarter to 800 thousand tons. Coke sales volumes for the period decreased by 3.2% q/q – to 700 thousand tons.
The average selling price of coking coal in PLN decreased by 9.6% quarter-on-quarter, and coke – by 5.1%. Investment expenditures amounted to over PLN 0.9 billion.
As previously reported, Jastrzebska Spolka Weglowa is launching a strategic transformation plan. The plan envisages the implementation of tasks in four key areas: increasing production efficiency, optimizing procurement processes, rationalizing investment costs and optimizing auxiliary functions. The economic impact of the plan is expected to be approximately PLN 8.5 billion by the end of 2027.
As GMK Center reported earlier, in Q4 of 2023, JSW increased sales of metallurgical coke by 5% year-on-year – to 790 thousand tons. Coal production decreased by 2.5% y/y – to 2.69 million tons, while coke production increased by 28% y/y – to 870 thousand tons.
