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Tauron – Ministry of State Assets letter of intent. The Treasury is to take over Tauron Wydobycie

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Tauron signed a letter of intent with the Ministry of State Assets regarding the potential purchase by the State Treasury of all shares in Tauron Wydobycie. The company operates three hard coal mines: Janina, Sobieski and Brzeszcze.

The Tauron Group announced in its Wednesday announcement that the letter of intent regarding the potential acquisition by the State Treasury of all shares in Tauron Wydobycie means for the Group the commencement of formal preparations for the separation of mining assets, with the prospect of by the end of this year.

“In a letter signed by the Ministry of State Assets and Tauron, the parties agreed that they would take all necessary steps to prepare and execute the transaction, and that they would conduct talks, negotiations and activities related to this transaction in good faith,” informed the Tauron Group, a special project team on this matter. Its task is preparatory and analytical work aimed at carrying out the transaction of sale of mining assets to the State Treasury.

“The date of the transaction will be influenced by the currently conducted by the Polish government the process of notifying public aid at the European Commission for the coal mining transformation program,” said Artur Michałowski, quoted in the press release, as acting president of Tauron.

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Tauron Extraction – mines

He reminded that all activities related to the position of the mines of Tauron Wydobycie are designed in accordance with the agreement signed in May this year. with mining ties, a social contract defining the pace and rules for the transformation of mining until 2049. According to this document, the mines of Tauron Wydobycie are also to be covered by, inter alia, subsidies to reduce production capacity, until their gradual phasing out.

The annex to the social contract specifies that the Brzeszcze mine is to operate until 2040, and the Janina and Sobieski mines – until 2049. Tauron’s representatives had previously declared the possibility of combining both of these mines into one organism.

Over 70 percent coal produced in the mines of Tauron Wydobycie is sent to the power plants and heat and power plants of the Tauron Group. Currently, the company has the largest reserves of thermal coal in Poland.

Mines in Poland – changes

The takeover by the State Treasury of shares and interests in three mining companies – Polska Grupa Górnicza, Tauron Wydobycie and Węglokoks Kraj – is an element of reorganizing the ownership structure of the hard coal mining industry in view of the implementation of the program currently discussed with Brussels, assuming public aid for the coal sector in the period of its gradual extinction by 2049.

Currently, Tauron Wydobycie belongs to the Tauron energy group, and Węglokoks Kraj (the company that manages the Bobrek mine in Bytom) belongs to Węglokoks – a State Treasury company in Katowice. On the other hand, the shareholders of Polska Grupa Górnicza – the largest producer of hard coal in the EU – are domestic energy groups, Węglokoks and Towarzystwo Finansowe Silesia. The MAP plan – as Deputy Minister of Assets Artur Soboń informed a week ago – assumes the takeover of all shares in these companies by the State Treasury.

Simultaneously with the preparations related to the separation of mining assets, Tauron (like other domestic energy groups) is preparing to spin off its coal-based generation assets for the future National Energy Security Agency.

Main photo source: media.tauron.pl



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