US EditionFinancial Catastrophe in Polish Coal Mining. Losses Tripled
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The so-called social contract signed in 2021 by the PiS government with mining unions provides for subsidies for the financial losses of mining - the indicator is the world price of coal. Currently, taxpayers pay around PLN 400 for each tonne, but even this is not enough - the cost of mining PGG and PKW - the two main companies covered by subsidies - is currently around PLN 800, and the price of coal for power plants oscillates around PLN 360 an…
It was bad, but it is worse. Hard coal mining showed a net loss of PLN 1.5 billion in the first quarter, which was 318 percent higher than the loss from the same period last year. And I am not talking about Bogdanka from Lublin, because it was in significant profit. The large losses are the result of the activities of Silesian mines.
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