NEWS
Coal  

Polish coal producer to cut pay and hours by 20% in May

Trade unions at Poland’s biggest coal producer, State-run PGG, have agreed to the company reducing hours and pay by 20% in May, which would make PGG eligible for government help.

Poland generates most of its electricity from coal but demand for power has slumped due to the new coronavirus epidemic and more of it is being generated from cleaner sources.

PGG is also struggling with the rapid spread of coronavirus cases among its miners.

The group’s management and trade unions have been in talks for weeks, as unions rejected the company’s initial proposal to cut salaries and working hours by 20% for three months.

They eventually agreed for lower pay in May only and the deal also assumes that by June 20 management will present the unions with a plan of how it sees the group operating in the remaining part of this year.

PGG’s chief executive said in April the company was in deep crisis, while the unions called for state support.

Poland’s State Assets Ministry said it was determined to stabilise the situation in the sector, without giving details.

Shareholders in PGG include other state-run listed companies – PGNiG, PGE, Energa and Enea. 

 

News No: 9398
Date: 2020/05/08 - 21:11
News Source: Mining.com

State Assets Ministry  PGG  coal 

Comments:

Leave a Comment:

   
   
   
 

South Korean utilities procure additional summer coal

South Korean utilities secured additional summer coal supply through a series of tenders this week, as delivered prices rose.
 

Viewpoint: US coking coal mines make cautious return

The resumption of halted operations at coking coal mines in the US comes amid signs of potential improvements in demand. But buyers and producers are still uniformly cautious about recovery for the rest of 2020.
 

Indonesia govt, parliament committee agree on mining law revision bill

Indonesia’s government and a parliamentary committee overseeing mineral resources on Monday agreed on revisions to the country’s mining law which include changes to the rules on concession size and the permit length.
 

Australian state launches enquiry into Anglo mine blast

Australia’s Queensland on Monday ordered an independent enquiry into an explosion at a coal mine run by Anglo American in the state that last week critically injured five workers.
 

Lawmakers urge punishment for banks that won’t back drillers

Three dozen lawmakers are pushing the Trump administration to get tough on banks and asset managers that restrict financing for oil drilling and coal mining, arguing they are “discriminating against America’s energy sector” and it “must be confronted.”
 

Annual coal output exceeds 1.5m tons

Annual production of coal in Iran reached 1.585 million tons in the previous Iranian calendar year 1398 (ended on March 19), IRNA reported citing the data released by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners