The Management Board of PG Silesia, a subsidiary of Bumechu, submitted a restructuring plan to the Katowice-East territory Court. It aims to reconstruct the financial viability of the company, guarantee profitability and make conditions for improvement between 2025 and 2030.
Recovery plan – key to the future PG Silesia
Vice-President of Bumechu, Andrzej Bukowczyk, emphasises that the plan is realistic and based on the company's current production capabilities.
"This is simply a good plan, which the company will want to implement after its approval by the court. The assumptions adopted are based on our production capacity and real opportunities, which together give our mining plant the essential perspective. So crucial for both employees, local community and shareholders" – this is Bukowczyk.
Coal production continues despite difficulties
Despite the PG Silesia sanitization procedure, it maintains the continuity of mining, focusing on the highest quality deposits. The decisions to launch fresh mining fronts are made dynamically, depending on marketplace prices and geological conditions.
"The assumptions adopted in the Restructuring Plan presume the operation of the extraction on the basis of a unitary strategy and the gradual making available of subsequent coal deposits, while maintaining as short a time as possible for the construction of mining walls. These are optimal assumptions” – adds Bukowczyk.
The NSA maintained the PG Silesia licence – key ruling
In early June, the ultimate Administrative Court decided on 2 crucial cases concerning the coal mining concessions under Goczałkowice. The NSA rejected both the 2013 request for the termination of the concession and the 2019 case for its extension until 2044.
The Court of First Instance held that the municipality of Goczałkowice-Zdrój has no legal interest in blocking the extraction and that land owners cannot argue mining activities. This is an crucial ruling that strengthens the position of PG Silesia.
Bumech – unchangeable marketplace position
The Bumech Group, which includes PG Silesia, specialises in extracting hard coal, digging underground excavations and manufacturing mining machinery. The company has been listed on the WSE since 2009 and its revenues in 2024 amounted to PLN 410 million.
Will the restructuring plan save PG Silesia? The decision of the court may decide on the future of the company and its employees.
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PG Silesia have a chance to rebuild? The restructuring plan went to court
