Boston, MA -- (ReleaseWire) -- 10/11/2012 -- Restructuring efforts in the coal mining sector and a general lack of new base metal prospects lead us to forecast a slow decline in Poland's mining industry. We expect industry value to decline to PLN21.7bn (US$8.64bn) by 2016, an annual average decline of 2.1% from 2010 levels. Nevertheless, the country will remain one of the most significant players in the European coal, silver, and copper markets.
Having pumped large sums of money into Poland's troubled coal sector, the government has cashed in with the sale of Jastrzebska Spolka Weglowa (JSW), Poland's largest coking coal producer. Despite meeting resistance from striking workers in April 2011, the initial public offering (IPO) went ahead once terms were agreed in June. In total, the government is expecting to raise PLN5.8bn, with one-third of the company to be sold on the open market. The sharp increase of coal prices in recent year has led to renewed interest in Poland's ailing coal sector. One of the most important developments to watch out for in the coming years is the planned IPO of Kompania Weglowa, Europe's largest coal miner with a production capacity of around 48mn tonnes per annum (mntpa). The government announced in March 2012 that the IPO will ideally proceed before 2013 ends.
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