Posted on 15 Jan 2025
Jastrzebska Spolka Weglowa (JSW) saw external coking coal sales inch up 2% on-year in the fourth quarter of 2024 to 1.46 million tonnes, but coke sales fell 6% to 790,000t, the Polish miner indicates in its provisional figures.
Coking coal production rose 1% on-year in Q4 to 2.71mt but coke output plunged 21% to 690,000t, the firm says without providing more details.
JSW’s average coking coal sales price in Q4 fell 16% in dollar terms versus Q3, the miner says. European coke prices remained in a downtrend in Q4, reaching $340/tonne, with JSW’s average coke sales price also dropping by 16% in dollar terms versus Q3.
JSW’s overall coal output, including thermal coal, reached 12.25mt in full-year 2024. The firm will release its 2024 annual figures later this quarter.
In November, the miner revised its coal output guidance for 2024 down to 12.35mt, following its third force majeure declaration in less than 12 months (see Kallanish passim). The firm later launched its Strategic Transition Plan to turn around its deteriorating financial situation.
Nine-month-through-September revenue fell 26% on-year to PLN 8.87 billion ($2.1 billion) and the firm posted a net loss of PLN 6.37 billion. The firm said in November Indonesia’s increased exports and “aggressive” pricing policy designed to gain market share are strongly impacting global coke prices and disrupting their correlation to coking coal values.
In a response to shareholders’ questions, JSW recently said it aims to conduct mining at the Debiensko 1 hard coking coal deposit but cannot apply for an exploration concession unless authorities first refuse to grant the Silesian Coal International Group of Companies a permit for the same. The infamous Debiensko site was subject to a long-lasting legal battle between authorities and GreenX Metals, the former owner of the project.
Source:Kallanish
