Through the January fire in the Knurów-Szczygłowice mine, as a result of which three miners lost their lives, the production of JSW this year is to fall by as much as 800,000. tone. This forced JSW to cut plans for this year, which originally amounted to mining 12-13 million tons. On Thursday, the company also lowered the valuation of this mine in its books, which will enter its financial losses.
Tests showed Loss of the value of Knurów-Szczygłowice in a total amount of up to PLN 648 million. As we checked in the annual report, its recoverable value was valued at PLN 1.5 billion, so currently it is about PLN 900 million.
At the end of last year Knurów-Szczygłowice was the second highest valued JSW mine for the Zofiówka mine (PLN 1.6 billion), now it will fall to third place for the Borynia mine (PLN 1.3 billion), and in front of the Budryk mine (PLN 750 million). The Pniówek mine (-203 million PLN) and the Bzie mine (-3.3 billion PLN) were negatively priced.
Making a copy will be reduced by the JSW and capital group, however, will not affect the liquidity situation. This means that in this respect in the company will really do nothing, and the correction will be made in the books. This, however, also means that the company is PLN 648 million less worth, which may be met with a correction of the stock market valuation and the possibility of taking loans.
