Europe's largest coking coal producer Poland-based Jastrzebska Spolka Weglowa SA (JSW) has announced that it produced 7.7 million mt of coal in the first half of the current year, including 5.4 million mt of coking coal and 2.3 million mt of coal for energy purposes.
At the end of the given period, JSW's coal inventories decreased by 377,000 mt year on year to 882,000 mt.
In addition, in 2015 JSW plans to produce 16.4 million mt of coal, compared to 13.9 million mt of coal in the previous year.
"The production plan is being implemented as planned, and our efforts are now focusing on optimizing costs and obtaining the increased coking coal output as quickly as possible. We are talking with business partners - both financial and from the industry - on the implementation of priority investments at the Budryk mine, the Knurów-Szczyglowice mine and the integrated mine. We are coping well with the reduction in operating costs, which allows us to maintain financial liquidity at all times. Despite the low levels of coal prices in the market, our commercial services sold a large part of the inventory," stated Edward Szlęk, CEO of JSW.