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Polish coking coal producer JSW announces force majeure

Monday, April 6th, 2020

Poland’s state-run JSW, the European Union’s biggest coking coal producer, has announced force majeure due to the spread of coronavirus, it said on Thursday evening.

“The decision has been taken due to the spread of (the) virus and the related restrictions, and actions of governments and companies in the world – which can have a direct impact on the JSW group,” the company said in a statement. It added that it is difficult to assess the impact of virus on its operations.

On Wednesday JSW said that its coal output fell by 40% this week after it reduced the number of shifts and many miners remained at home because of the coronavirus outbreak.

Poland is working on a plan to support its state-run companies, Poland’s Minister of State Assets Jacek Sasin told private broadcaster TVN24 on Friday morning. He said that state-owned airline carrier LOT will need public aid.

https://www.reuters.com/article/health-coronavirus-poland-jsw/polish-coking-coal-producer-jsw-announces-force-majeure-idUSL8N2BR1LO?rpc=401&
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