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Lubelski Węgiel
Lubelski Węgiel Bogdanka S.A.

LW Bogdanka S.A. extracts 1.90 million tonnes of coal in the second quarter and upholds the plan to sell 8.5 million tonnes of coal in 2015

Tuesday, 2015-07-07

Bogdanka, 7 July 2015

 

PRESS RELEASE



LLW BOGDANKA S.A. EXTRACTS 1.90 MILLION TONNES OF COAL IN THE SECOND QUARTER AND UPHOLDS THE PLAN TO SELL 8.5 MILLION TONNES OF COAL IN 2015
 

Lubelski Węgiel BOGDANKA S.A., the most advanced and effective hard coal mine in Poland, produced 1.90 million tonnes of commercial coal in the second quarter of 2015, compared to 1.99 million tonnes achieved in the first quarter of 2015, and 2.02 million tonnes in the second quarter of 2014. The level of sales in the second quarter of 2015 totalled 1.88 million tonnes, as compared to 1.95 million tonnes in the first quarter of 2015 and 2.10 million tonnes in the second quarter of 2014. Cumulatively, production of commercial coal in the first half of the year amounted to 3.89 million tonnes, while sales totalled 3.82 million tonnes, as compared to 4.25 million tonnes and 4.33 million tonnes in the same period of 2014, respectively. Lower extraction and sales of coal is connected with continued market difficulties and oversupply of coal on the Polish market.

The achieved extraction and sales are in line with this year’s customer delivery schedule. The Company upholds the plan to sell 8.50 million tonnes of coal in 2015.

The Company is currently focused on attracting new customers and adjusting its operations to the existing extraction level (which correlates with sales opportunities) by optimising the structure and level of extraction, reducing the costs of operations and limiting investment expenditure.
 

Zbigniew Stopa, President of the Management Board of LW BOGDANKA S.A.:
“The production and sales in the second quarter were consistent with the assumptions and schedules of deliveries to customers. We uphold our declarations concerning the sales of 8.50 million tonnes of coal this year. This means that both the production and sales in the second half of the year will be significantly higher than during the first six months. At the moment, our priority is to attract new customers, adjust our operations and extraction to current sales opportunities by optimising the structure and level of extraction, and further reducing the costs of production and investment expenditure. Our objective is to maintain unit costs on the existing level irrespective of the decline in volumes.”

 

For enquiries, please contact:

Magda Kołodziejczyk, M+G
phone +48 22 416 01 02, +48 501 16 88 07
e-mail: magda.kolodziejczyk@mplusg.com.pl  
 


 

More at www.bogdanka.eu
 

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