Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
KATOWICE, Poland, March 26 (Reuters) – Poland’s biggest mining firm, state-run PGG, expects its coal output to rise slightly this year from around 30 million tonnes in 2017, the company’s Chief Executive Tomasz Rogala said on Monday.
“I think we will produce more than 30 million tonnes. This could be 30.6-30.7 million,” Rogala told reporters.
PGG, which accounts for about half of the amount of thermal coal produced in Poland, missed its original 2017 output target of 32 million tonnes after cost-cutting led to lower investment.
(Reporting by Wojciech Zurawski; Writing by Agnieszka Barteczko; Editing by David Evans)
