Poland's prime minister and other government officials will meet on Tuesday to discuss a threat by Australia's Prairie Mining to sue Warsaw over difficulties it faced in developing coal projects.
POLAND Mining News
Poland's energy market is being left to speculators after repeated interventions by the government have put off long-term investors.
If rubber-stamped by the senate, the move would give state-run KGHM a bit more room to breathe, as the miner has been struggling with rising costs, falling copper prices, technical problems and higher-than-expected capital spending in the past years.
KGHM's foreign assets have struggled with rising costs, falling copper prices, technical problems and higher-than-expected capital spending.
Chemicals group Johnson Matthey has secured a site in Poland to produce battery materials and signed a 10-year supply deal with Canada's Nemaska Lithium.
The body, which looks into the way the Polish state operates and how it spends public funds, says the company has spent more than $5.2B in three years on the underperforming Sierra Gorda mine.
Miner missing in Rudna mine is alive!
Originally 14 were missing, but some were rescued within several hours of the tremor.
The new investment would create 300 jobs and that investments would total over 200 million euros.
"We refer to lower end of copper price range forecast by analysts and we assume an average copper price at $6,100-$6,300 per tonne."
Coal bosses see a need to address climate risk, but say Poland must use thermal coal for electricity until it has a better option.
Poland's ambitions to invest in coal have stirred outrage at U.N. climate talks taking place in Katowice.
We are now working on internal approvals for the final stage of talks - Daniel Ozon, CEO Prairie Mining
Northvolt's plans are a central part of Europe's effort to compete with Asian rivals such as CATL, Samsung and LG Chem.
Hungary’s central bank increased its gold reserves 10-fold, citing the need to improve its holdings’ safety, joining regional peers with relatively high ownership in the European Union’s east.
KGHM will deliver updated strategy by year-end and it has no plans to sell foreign assets.
Poland plans to boost output of coal by about 10 percent in the next several years to cut down on imports, which are set to jump to a record this year.
Poland is making a rare charge into gold. The country added about 9 metric tons to its bullion reserves in July and August as prices dropped.
Coal currently feeds about 27% of the world’s energy demand.
Poland's state-run JSW awaits approval from the Energy Ministry in its bid to acquire the mining assets of Australia's Prairie Mining
Tamar Resources wants to reopen the state-owned Krupinski mine in Silesia as a coking coal mine.
The plant is the first of its kind built by Umicore in Europe and comes as the European Union is trying to develop EV battery manufacturing in the bloc.
State-run JSW and Australia's Prairie, which is developing mines in Poland, have been in cooperation talks for much of this year but JSW wants control.
KGHM has not had a CEO since Radoslaw Domagalski-Labedzki was fired on March 10.
The company also said it plans to reduce investment in oversees assets and focus on domestic operations.