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The Warsaw Voice » Business » December 28, 2017
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Coal group in troubles
December 28, 2017   
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State-owned mining group PGG will fail to meet its 30.5 million tons extraction plan for 2017 by ca. 4.5 million tons, the daily Dziennik Gazeta Prawna writes of its interpretation of the documents from the Industrial Development Agency (ARP).
The coal group is hard pressed to meet the target as it includes in it the output from the four mines taken over from the troubled KHW coal group, the daily observes.
PGG is trying to make up for the expected losses by making its mining personnel work on Saturdays in return for higher weekend wages, an insider tells the daily. PGG is thus putting the expected net profit of PLN 400 million under a question mark, the daily adds.
The coal group is also falling behind the schedule when it comes to launching new longwalls, missing the target by ca. 38,000 metres, i.e. 10 to 11 new longwalls, the newspaper found out. Thus, PGG is seeking to increase imports, having already stepped up the 10M imports volume by ca. 3 million tons year on year, according to the daily's own findings.
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