2012-02-13 17:08:09 - Recently published research from Business Monitor International, "Poland Mining Report Q1 2012", is now available at Fast Market Research

Poland's mining sector looks likely to change fundamentally over the coming years owing to the government's privatisation drive. Indeed, the cash-strapped country is in a hurry to spin-off state assets. BMI forecasts that Poland's mining sector will achieve real year-on-year (y-o-y) growth of 4.4% to reach a value of PLN32.17bn (US$10.90bn) in 2011, followed by 3.6% in 2012, when we predict the total value of the mining sector will be PLN34.26bn (US$11.61bn).

Having pumped large sums of money into Poland's troubled coal sector, the government is now hoping to cash in with the sale of Jastrzebska Spolka Weglowa (JSW), Poland's largest coking coal producer. Despite meeting resistance from striking workers in April 2011, the initial public offering (IPO) went ahead once

terms were agreed in June. In total, the government is expecting to raise PLN5.8bn, with one-third of the company to be sold on the open market. However, there are a number of challenges, not least the shaky global economic picture and the poor precedent set by the lacklustre Bank Gospodarki Zywnosciowej (BGZ) privatisation earlier in 2011. The Polish treasury raised just US$113.7mn from the IPO for BGZ, which equates to about 22% of the maximum it could have raised from the offering. The treasury managed to sell 5.2mn shares in the bank as part of the government's plans to sell its 37% stake (16mn shares).


Full Report Details at
- www.fastmr.com/prod/329542_poland_mining_report_q1_2012.aspx


Copper producer KGHM Polska Miedz nearly tripled its net profit for Q111, reported Steelguru, with profits for the quarter reaching US$709mn. The state-controlled miner said that its sales jumped by more than 46% to US$1.72bn at the same time as copper prices surged.

Dutch miner New World Resources (NWR) has announced that it has received approval from its board of directors to extract coal from the Debiensko mine in Poland. A feasibility study indicates that the mine has a reserve of 190mn tonnes of coal, allowing for average annual production of 2mn tonnes. NWR expects the first coal to be extracted from the mine in 2017. Total investment in the project will reach EUR411mn, which is modest compared to typical investments in mines, and appears to be a good value in our view, considering that NWR has a 50-year licence to mine the resource. NWR is also looking to mine coal at a number of additional coal seams at the site, with approval expected in 2012.

Report Table of Contents:

SWOT Analysis
- Poland Political SWOT
- Poland Economic SWOT
- Poland Business Environment SWOT
Global Mining Outlook
- Table: Recent Tax Increases
- Table: Largest Coal Projects
- Table: Frontier Mining Projects
Industry Trends And Developments
- Table: Mines In Poland
- Environmental Protection
Business Environment
- Table: Europe Mining Business Environment Ratings
Political Outlook
- Domestic Politics
- Regional Outlook
- Long-Term Political Outlook
Industry Forecast
- Coal
- Table: Poland's Coal Production, 2008-2015
- Copper
- Table: Poland's Copper Production, 2008-2015
- Zinc
- Table: Poland's Zinc Production, 2008-2015
Regulatory Development
Competitive Landscape
Company Profiles
- KGHM Polska MiedY SA
- Jastrzebska Spo3ka Weglowa SA
- Kompania Weglowa
Commodity Strategy - Metals Update
- Copper
- Aluminium
- Lead
- Nickel
- Tin
- Zinc
Global Assumptions
- Table: Global Assumptions, 2009-2015
- Table: Global And Regional Real GDP Growth, 2010-2013 (% y-o-y)
- Table: Selected Developed Market Exchange Rates, 2010-2013 (average)
- Table: Selected Emerging Market Exchange Rates, 2010-2013 (average)
- Developed States
- Table: Developed States Real GDP Growth Forecasts, 2010-2013 (% y-o-y)
- Table: Emerging Markets Real GDP Growth Forecasts, 2010-2013 (% y-o-y)
- Consensus
- Table: Real GDP Growth Consensus Forecasts, 2011-2012 (% change y-o-y)
Business Environment Ratings Methodology
- Table: Mining Business Environment Indicators
- Table: Weighting Of Components

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