Polish JSW expects coal production in 2024 to reach 13.5 million tons

Polish coking coal producer Jastrzebska Spolka Weglowa (JSW) expects coal production in 2024 to remain unchanged from the previous year and amount to 13.5 million tons. This was stated by Adam Rozmus, Deputy CEO for Production, S&P Global reports.

According to him, the company is conducting a detailed analysis of production this year due to incidents at two mines – KWK Pniowek and KWK Budryk.

«According to our estimates, coal production will be about 13.5 million tons, but this cannot be considered an official forecast,» said Rasmus.

He also said that coal production in the third and fourth quarters should be higher than in the first half of the year.

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

Earlier, the company said that due to the fire at the Pniowek mine in December last year, it would reduce coal production by 450 thousand tons in 2024. Previously, the decline in production was estimated at 350 thousand tons per year. In April, JSW declared force majeure after an internal fire at the Budryk mine. The incident was expected to reduce production at the asset by 400 kt in 2024.

In 2023, JSW produced 10.9 million tons of coking coal and 2.6 million tons of thermal coal. The company intends to increase the share of coking coal in total production to more than 90% starting from 2026.