Europe's largest coking coal producer Poland-based Jastrzebska Spolka Weglowa SA (JSW) has stated that, despite the ongoing significant decline in global coking coal and steam coal prices, it has not abandoned its efforts to enhance performance.
Accordingly, in the third quarter of the current year both coal and coke production costs have been reduced markedly compared to the previous quarter following effective operational measures and ongoing optimization of expenditures.
Maintaining its levels of output and discipline in pursuing its savings program has facilitated further reduction in the unit coal mining cash cost. In the third quarter, the unit coal mining cash cost fell below PLN 300 ($75.2) per ton to PLN 298.37 ($74.8) year on year, down 2.6 percent from PLN 306.22 in the second quarter this year.
Meanwhile, operating profit plus depreciation and amortization (EBITDA) was PLN 364.4 million ($91.37 million) in the third quarter compared to a negative EBITDA of PLN 94.2 million in the second quarter.