X Continue

Cookie file regulations.
A system of cookie files is in place on our website to ensure top-quality services suited to your individual needs. If you use the website without adjusting your cookies settings, cookie files will be stored on your device. Cookie settings may be changed at any time. For more information, see our Cookies Policy.

Lubelski Węgiel
Lubelski Węgiel Bogdanka S.A.

Bogdanka after first quarter of 2015

Friday, 2015-04-10

 

Bogdanka, 10 April 2015



PRESS RELEASE


LW BOGDANKA extracts 1.99 million tonnes of coal in the first quarter and upholds the plan to sell  9.3-9.5 million tonnes of coal in 2015

 

Lubelski Węgiel BOGDANKA S.A., the most advanced and effective hard coal mine in Poland and the leader in the domestic market for power coal producers, extracted 1.99 million tonnes of commercial coal in the first quarter of 2015, compared to 2.24 million tonnes achieved in the same period last year.Sales in the first quarter of 2015 amounted to 1.95 million tonnes, compared to 2.23 million tonnes in the previous year. Lower extraction and sales are related to the current difficult market situation and an oversupply of coal on the Polish market.

The achieved extraction is in line with this year’s customer delivery schedule.The Company upholds the plan to sell 9.3-9.5 million tonnes of coal in 2015.

The Company focuses now on adjusting its operations to the extraction level (conditional upon sales possibilities) by optimising the structure and level of extraction, as well as further reduction of costs and investment outlays.

Zbigniew Stopa, President of the Management Board of LW BOGDANKA S.A.:

“In 2014, we finalised our multi-annual investment programme aimed at doubling the production capacity. Following the launch of the Mechanical Coal Processing Plant our capacity amount to 10.5-11.5 million tonnes. Unfortunately, the current difficult market situation forced us to verify our plans for 2015. The previous quarter was the first period when the impact of the current market situation was reflected in Bogdanka’s operations – for the first time in many years, our production did not depend on our production capacity but on the possibility to place coal on the market.

We uphold our declarations concerning the sales of 9.3-9.5 million tonnes of coal this year. We continue works to update the strategy that is aimed at preparing the Company for operation on the drastically changing, due to external factors, and more and more competitive market. At the moment, our priority is to adjust our operations and the extraction to current sales possibilities by optimising the structure and level of extraction, as well as by further reduction of costs and investment outlays. The long-term goal of the conducted activities is to create conditions for keeping down extraction costs in a longer perspective. We have also been conducting activity aimed at broadening the spectrum of the Company’s customers.”

back
Calendar
Today is:
09 of July 2020
Name day of:
Hieronima, Palomy, Weroniki
© LW „Bogdanka” S.A. - 2018
Realization: Data Flow sp. z o.o.