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Jastrzebska Spolka Weglowa

Coking coal producer downgrades expectations due to incidents at two mines – KWK Budryk and KWK Pniowek

Polish coking coal producer Jastrzebska Spolka Weglowa (JSW) expects a reduction in production in 2024 by about 850 thousand tons due to incidents at two mines – KWK Budryk and KWK Pniowek. This is reported by Kallanish with reference to the company’s data.

The company recently declared force majeure due to a fire at the KWK Budryk mine. The incident is expected to reduce production at the company by about 400 thousand tons in 2024. At the same time, in December 2023, JSW reported a fire at the KWK Pniowek mine. The estimated production damage is estimated at 450 thousand tons this year. Previously, the production decline was estimated at 350 thousand tons per year.

In the first quarter of 2024, JSW produced 3.13 million tons of coking coal, down 10% compared to the same period in 2023. Sales of products fell by 17% y/y – to 1.46 million tons. The average selling price of coking coal increased by 1% in PLN and 4% in USD equivalent during the period.

In March, the company increased its metallurgical coke production by 8% compared to March 2023 to 830 thousand tons, and sales by 18% y/y – to 990 thousand tons. Sales prices increased by 3% in PLN and 6% in USD.

As GMK Center reported earlier, in the fourth quarter 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.