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Lubelski Węgiel
Lubelski Węgiel Bogdanka S.A.

Miners Debated on How to Create Profitable Mines

Wednesday, 2015-05-06

During one of the Poland’s most important conference events concerning economic issues in Poland and Europe, i.e. during the recently held European Economic Congress in Katowice, one of the most heated and timely debates was held during the panel “Mining. A profitable mine”. Considering the fact that the global coal market has recently proved to be very unstable, industry representatives are carefully analysing profitability ratios that precisely indicate which walls and to what extent should be excavated. The representatives highlight that the payroll system in the mining industry needs to be combined with miners’ job performance, and stress that fixed salaries can no longer apply. Mr Zbigniew Stopa, the President of the Management Board of LW Bogdanka, was among the invited participants in the debate.

Mr Stopa has, among other things, pointed out to the necessity to progress towards the optimisation of the use of underground machines, maximisation of the working time of longwalls, and, as a consequence, the necessity to use tailor-made machines in order to maximise their efficiency. He said that Bogdanka continues its efforts to adjust the mine’s operations to the current output level which is correlated with the level of sales. In accordance with the savings plan, the Company is optimising the structure of extraction, reducing the costs of operations and limiting investment expenditure. In addition, the Company follows a policy aimed at reasonably reducing the employment level and adjusting it to the planned extraction level. The reduction of employment takes place as a result of eligible employees taking retirement and employees with fixed-term contracts ending their employment. The Company has also made plans to limit the outsourced services in 2015.

European Economic Congress 2015

Fot. PTWP SA

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