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Wednesday, February 28, 2024

Jastrzębska Spółka Węglowa on the occurrence of force majeure. The impact of the fire in the Pniówek mine on production – this is the resolution of the JSW management board

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On Tuesday, the Management Board of Jastrzębska Spółka Węglowa “adopted a resolution on the occurrence of force majeure at JSW.” As reported, at the beginning of December there was a fire in the Pniówek Hard Coal Mine. The energy company’s estimates show that in 2024 this may reduce production levels by 350,000 tons.

The JSW Capital Group – as we read on the company’s website – is the largest producer of high-quality hard coking coal in the European Union and one of the leading producers of coke used for melting steel.

JSW about the fire in the mine

The company’s management board announced on Tuesday that it had adopted “a resolution on the occurrence of force majeure at JSW and on informing the company’s contractors about its occurrence and its consequences for obligations covered by force majeure.” “The decision in question is related to the fire that occurred on December 6, 2023 in the Pniówek Coal Mine,” added the stock exchange announcement.

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The Management Board of JSW announced that, as a result of the analyses, the estimated effects of the event in 2024 are estimated at PLN 350,000. tons of reduced production levels at the Pniówek Coal Mine.

“The company informs that as of the date of preparation of this report, it is not possible to determine the full impact of the event on the future prospects of the company and its group. In the event of significant changes resulting from the conducted analyses, JSW will inform in separate current reports,” it was announced.

The Pniówek mine was built in 1963-1974. In 1993, it became part of Jastrzębska Spółka Węglowa. In 2006, the extraction of the 100 millionth ton of coal was celebrated – we read on the company’s website.

KWK Pniówekphoto: Dawid Lach/jsw.pl

JSW shares have been listed on the Warsaw Stock Exchange since July 2011.

Main photo source: photo: Dawid Lach/jsw.pl

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