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Poland Mining Report Q4 2012 - Product Image

Poland Mining Report Q4 2012

  • Published: October 2012
  • Region: Poland
  • 66 pages
  • Business Monitor International

The Poland Mining Report provides industry professionals and strategists, corporate analysts, mining associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Poland's mining industry.

Restructuring efforts in the coal mining sector and a general lack of new base metal prospects lead us to forecast a slow decline in Poland's mining industry. We expect industry value to decline to PLN29.6bn
(US$9.5bn) by 2016, an annual average decline of 2.0% from 2010 levels. Nevertheless, the country will remain one of the most significant players in the European coal, silver and copper markets.

Having pumped large sums of money into Poland's troubled coal sector, the government has cashed 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. The sharp increase of coal prices in recent year has led to renewed interest in Poland's READ MORE >

Executive Summary 5

SWOT Analysis 7

Poland Mining Industry SWOT 7

Global Mining Outlook 8
Table: Recent Tax Increases 11
Table: Largest Coal Projects 13
Table: Major Frontier Mining Projects 14

Europe Mining Sector Outlook 15
Table: Major Nordic Mining Projects 17
Table: Key Gold Projects In Eastern Europe 18

Market Overview 19
Table: Poland – Mining Industry Value & Production 22

Industry Forecasts 23

Coal: Restructuring To Reduce Production 23
Table: Poland – Coal Production 26

Copper: Modest Growth As Falling Grades Take Their Toll 26
Table: Poland – Copper Production 28

Zinc: Production Decline To Persist But With Potential Upside 28
Table: Poland – Zinc Production 30

Regulatory Development 31

Europe Business Environment Ratings 33
Table: Mining Risk/Reward Ratings 33

Competitive Landscape 37
Table: Mines In Poland 38

Company Profiles 39

LW Bogdanka 39
Table: LW BOGDANKA's Financial Results 41

KGHM 42
Table: KGHM's Financial Results 44

JSW 45
Table: JSW – Financial Results 48

Commodity Strategy 49

Monthly Metals Update 49

Aluminium: Support At US$1,800/tonne Likely To Hold 50

Copper: Relative Outperformer But Still Weak 52

Iron Ore: Don't Bet On A Sustainable Recovery 54

Lead: Potential For Short-Term Rally 56

Nickel: No Turnaround Coming 57

Steel: More Pain Ahead 58

Poland Mining Report Q4 2012

© Business Monitor International Ltd

Page 4

Tin To Outperform 59

Zinc: Little Room For Optimism 61
Table: Select Commodities – Performance & BMI Forecasts 62

Business Environment Ratings Methodology 63
Table: Mining Business Environment Indicators 64
Table: Weighting Of Components 65

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