President of JSW: Coking coal is a critical raw material, but there is no support system

Even though coking coal is a critical European raw material, there are no support mechanisms for it, said Bogusław Oleksy, acting president of JSW, during the European Economic Congress. He added that without a support mechanism, it would be difficult to keep coking assets “in normal operation.”

During the mining panel, Oleksy was asked what the mechanisms protecting the European market against unfair competition look like from the perspective of the only coking coal producer in the European Union and how the strategic importance of this raw material for the industry is taken into account.

– From the point of view of why coking coal has been recognized as a critical raw material for 10 years, we actually have nothing. Looking at the geopolitical situation, we should create national and European local content, but this is not visible at all – admitted Oleksy.

– I believe that our Prime Minister's slogan that we should stop being “suckers” should be extended to EU regulations. The EU should finally realize that it needs to take care of its own resources, because this is an extremely important element in the event of an interruption of supply chains, he emphasized.

Recalling that JSW is a producer of both coking coal and coke, Oleksy said that in the coking area it is even more difficult for the company because it does not have direct integration with the steel industry, which can count on support.

– This means that given the price disturbances on the coke market, this entire industry in Poland has no reason to exist. Without a support system, it will be difficult to maintain our assets in normal functioning, he said.

He pointed to a kind of paradox in which Europe exports approximately 30 million tons of coke every year and imports virtually the same amount. He also asked why the EU does not ensure that this raw material for the steel industry is provided by the European industry.

– In geopolitics, costs are not always decisive. We have to ensure the stability of supplies and the flexibility of these supplies, and someone has to pay for this. Europe must pay. It is not us, as Poland, who should pay for maintaining material and human resources. We also expect that this lobbying process carried out by our politicians in Brussels will finally bring results – emphasized the acting president of JSW.

Oleksy also assessed that the European industrial area is entirely over-regulated.

The acting president of JSW also pointed out that the process of employee departure resulting from the Act on the Operation of Mining will translate into a reduction in staff competences. – PESEL will decide in the coming years what our mining industry will be like – he said.

Admitting that the potential of the coal market – both power and coking – is shrinking, and that JSW is being verified by the situation in the steel industry, he signaled that the company has been working for a long time on the offer of a service providing qualified staff, e.g. for clients from India or Mongolia.

JSW Group at, among others, unfavorable market conditions, as well as guaranteed employment and remuneration conditions for the staff, had a net loss of PLN 7.3 billion in 2024, and after three quarters of 2025, a cumulative loss of PLN 2.9 billion. The company declared the publication of the annual report for 2025 on March 26 this year, but on March 11 this date was postponed to April 28 this year (PAP)

mtb/ mick/