WARSAW (Reuters) -Poland’s government is in talks with banks about possible loans to help save troubled miner JSW, State Assets Minister Wojciech Balczun said on Wednesday.
JSW, Europe’s largest producer of coking coal used in the steel industry, is facing liquidity issues due to falling prices for the feedstock as well as high wage costs and requires restructuring.
“We’re talking to the banks. The company needs to go through a restructuring process. It needs to clear itself of unnecessary assets that could be a source of funding,” he told journalists.
“I am a moderate optimist. We want to save JSW. It is a key company.”
(Reporting by Marek Strzelecki; Writing by Anna Wlodarczak-Semczuk; Editing by Joe Bavier)
