Polish JSW produced 2.7 million tons of coking coal in Q2

The Polish producer of coking and thermal coal Jastrzebska Spolka Weglowa (JSW) in April-June 2023 reduced the production of coking coal by 0.7% compared to the same period last year – to 2.7 million tons. Compared to the previous quarter, the figure increased by 1.5%. Kallanish reports about it.

Sales of coking coal for the second quarter decreased by 5% compared to April-June 2022 and by 5.7% compared to the first quarter of 2023 –to 2.64 million tons. At the same time, sales of raw materials within the group amounted to 1.14 million tons, which is 9.6% more q/q and 4.2% less y/y.

Coke production at Polish JSW in Q2 decreased by 4.5% y/y and rose by 10.3% q/q – up to 850 thousand tons. Sales of coke increased by 6% y/y and 4.7% q/q – up to 880 thousand tons

The average selling price of JSW coking coal in the second quarter increased by 7% compared to the previous quarter.

In 2022, JSW reduced external sales of coking coal by 7% y/y – to 6.4 million tons, while coke sales fell by 11% – to 3.2 million tons.

In the fourth quarter, the company reduced total coal production by 2.9% compared to the same period in 2021 – to 3.47 million tons. Coke production for this period amounted to 680 thousand tons, which is 23.6% less y/y, and coking coal – 2.76 million tons (-0.4% y/y).

As GMK Center reported earlier, recently JSW signed a funding agreement under the Sustainability Linked Loan formula for decarbonization and sustainable development of its capacities in the amount of PLN 1.65 billion ($392.3 million). This is the first such funding for the mining industry in Central and Eastern Europe.

Among the JSW targets set out in the SLL are to reduce greenhouse gas emissions (compared to 2018) by 27% by 2026 and by 30% by 2030, increase the level of methane capture to 50% by 2026 and the level of methane management – at the level of 90% by 2026.