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World Coal reported that Poland’s coal mining industry has come to a halt, with coal miners in the country starting a nationwide strike on February 2.
World Coal reported that Poland’s coal mining industry has come to a halt, with coal miners in the country starting a nationwide strike on February 2. They are supporting employees of Jastrzebska Spolka Weglowa SA (WSE:JSW), the largest metallurgical coal producer in the European Union.
As quoted in the market news:
The coal workers are protesting against plans to scrap some social benefits, as well as the dismissal of union leaders, according to a statement on the union’s website. They are also demanding removal of the management, led by CEO Jaroslaw Zagorowski. JSW is seeking 517 million zloty (US$139 million) of cost cuts to maintain liquidity amid low coal prices, Zagorowski said.