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EPP dominates listed property market with 21% return for 2018

By: Marleny Arnoldi     16th January 2019 JSE-listed retail property fund EPP has delivered a total return of 21% in 2018. The JSE’s benchmark property index SAPY recorded a total return of minus 25% for the year.  

EU's biggest coal-mining nation plans output hike to cut imports

By: Bloomberg     5th October 2018 The biggest coal producer in the European Union plans to boost output of the dirty fuel by about 10% in the next several years to cut down on imports, which are set to jump to a record this year, according to the Polish government. The country, which saw its thermal coal output slumping 7% to... 

Polish miner JSW to work with Sasol on new plant

By: Reuters     27th September 2018 Poland's JSW, the European Union's biggest coking coal producer, said on Thursday it will cooperate with South African petrochemicals group Sasol on a project to launch a synthetic fuel plant in Poland. "Poland is an ideal place for launching a coal to fuel plant. We have valuable coal deposits... 

EPP reports strong portfolio, income growth

By: Marleny Arnoldi     7th September 2018 JSE-listed Polish property company EPP has declared a distribution growth of 12% apiece to 5.82c for the six months ended June 30, compared with 5.19c in the first half of 2017, placing the company on track to deliver full year dividends of between 11.6 and 11.8c apiece. EPP’s results show... 

Poland's JSW seeks tighter grip on coking coal with possible Prairie bid -sources

By: Reuters     6th September 2018 Poland's JSW is considering a bid for control of Prairie Mining to tighten its grip as the EU's biggest coking coal miner, two sources familiar with the situation said. Coking coal is on the European Commission's list of critical raw materials of economic importance with the price of Chinese... 

Poland's KGHM optimistic of meeting 2018 output plan

By: Reuters     17th August 2018 Poland's KGHM, one of the world's biggest copper and silver producers, will achieve its 2018 copper production plan despite a fall in output in the first half of the year, the company's chief executive said on Friday. "Looking at the results planned for 2018 we are optimistic and we assume that... 

Poland's copper producer KGHM ends maintenance at Glogow smelter

By: Bloomberg     2nd July 2018 Poland's KGHM, one of the world's biggest copper and silver producers, has finished a two-and-a-half month maintenance at its copper smelter in Glogow, the company said on Monday. "Production restarted eight days earlier than envisaged in the initial assumptions," KGHM said in a statement. 

EPP on solid growth path with strong Q1 operational performance

By: Anine Kilian     25th June 2018 JSE-listed Polish property company EPP successfully bought the first tranche of the M1 portfolio, comprising four properties in sought after regions, adding 194 000 m² in gross lettable area (GLA) and taking total income producing assets to over €2-billion in the quarter ended March 31. The M1... 

Polish copper producer KGHM appoints new CEO

By: Reuters     25th June 2018 Poland's State-run KGHM, one of the world's biggest copper and silver producers, has appointed Marcin Chludzinski as its new CEO, the company said on Friday. Chludzinski has been the head of the State-run Industrial Development Agency. Local media, including Puls Biznesu, had reported he was the... 

Prairie stock falls as Debiensko concession amendment is denied

By: Mariaan Webb     29th May 2018 The Polish Ministry of Environment (MoE) has denied Australian miner Prairie Mining’s application to extend the production starting date of its Debiensko hard coking coal mine, a decision which Prairie said on Tuesday it would appeal. In terms of the mining concession that the MoE issued in... 

Last missing Polish miner found dead – JSW

By: Reuters     16th May 2018 Rescuers searching for Polish miners trapped almost a kilometre underground since a tunnel collapsed 11 days ago have found the body of the last missing man, taking to five the death toll in the incident, coal company JSW said on Wednesday. The Zofiowka mine in southern Poland was hit by an... 

Poland's KGHM Q1 net profit falls 38%, comes tad below forecasts

By: Reuters     15th May 2018 Poland's KGHM, one of the world's biggest copper and silver producers, reported on Tuesday a 38% annual fall in its first quarter net profit due to lower production and sales. The State-run KGHM said its net profit for the three months of the year stood at 439-million zlotys compared with... 

Two of three missing Polish miners found dead - JSW

By: Reuters     14th May 2018 Rescuers searching for three Polish miners trapped almost a kilometre underground since a tunnel collapsed eight days ago have found two bodies, taking the death toll from the incident to four, coal company JSW said on Sunday. One man is still missing at the Zofiowka mine in southern Poland,... 

Divers to hunt for three Polish miners trapped underground

By: Reuters     9th May 2018 Divers were being sent on Wednesday to try to rescue three Polish miners trapped almost a kilometre underground since an earthquake caused a tunnel to collapse four days ago. "We hope that they are there, waiting for our help," Tomasz Sledz, deputy head of the coal company JSW, told a news... 

Rescuers battle to reach three missing Polish miners

By: Reuters     8th May 2018 Rescuers battled "extremely difficult" conditions on Monday searching for three Polish miners still missing two days after an earthquake, the mine's operator JSW said. The quake struck the Borynia-Zofiowka-Jastrzebie coal mine in southern Poland on Saturday morning, trapping seven people almost... 

Two miners dead, three missing after quake at Polish coal mine

By: Reuters     7th May 2018 Rescue teams have confirmed the death of a second Polish coal miner and are searching for three more trapped nearly a kilometre underground after a quake, the chief executive of the mine owner said. The quake hit the Borynia-Zofiowka-Jastrzebie coal mine in southern Poland on Saturday morning,... 

Growthpoint Properties issues maiden $425m eurobond, lists on JSE green bond segment

By: Marleny Arnoldi     25th April 2018 JSE-listed real estate investment trust Growthpoint Properties has successfully priced its inaugural US dollar-dominated eurobond, the proceeds of which will be used to fund its expansion in Central and Eastern Europe (CEE).  

Prairie Mining starts legal action against Poland's environment Ministry

By: Reuters     3rd April 2018 Australia's Prairie Mining said it filed a lawsuit in a Warsaw civil court on Friday against the Polish environment ministry, seeking an extension to the company's exclusive rights to a mining project in the country. The news sent the miner's shares plunging 30% in London and 20% in Warsaw. 

Poland's KGHM targets rise in Chilean copper ore output

By: Reuters     16th March 2018 Polish copper producer KGHM said it expects daily copper ore output at its Chilean mine Sierra Gorda to increase by 18% next year from current levels. State-run KGHM acquired Chilean and Canadian copper deposits in 2011 when it bought Canada's Quadra FNX for $2-billion, the largest ever foreign... 

Polish copper miner KGHM misses forecasts with Q4 net loss

By: Reuters     15th March 2018 Poland's KGHM, one of the world's biggest copper producers, reported a fourth-quarter consolidated net loss of 87-million zlotys on Wednesday compared to an almost five-billion zlotys impairment-driven loss a year ago. The loss came despite a rise in copper prices and contrasted with an average... 

Polish JSW beats forecasts with 2017 profit, but suspends dividend

By: Reuters     13th March 2018 JSW, the European Union's biggest coking coal producer, said on Monday its 2017 net profit jumped to 2.54-billion zlotys ($745.31-million) from 6.7-million zlotys a year earlier, driven by a 65% rise in the average coking coal price. Analysts polled by Reuters had expected state-run JSW to... 

Poland's PGE says facing delays in coal-fuelled Opole power plant

By: Reuters     23rd February 2018 Poland's biggest power producer PGE said two units at its coal-fired Opole power plant will be completed a few months later than planned, potentially delaying the country's biggest infrastructure investment since 1989. The plant in the south-west of Poland is expected to help avoid power... 

JSW to check demand for bond issue in Poland

By: Reuters     9th February 2018 Poland’s JSW, which is the European Union’s biggest coking coal producer, is looking into a possible bond issue on the Polish market, its CFO said on Friday. It will also consider a $400-million to $500-million issue on the international market, CFO Robert Ostrowski told reporters. 

Polish retail portfolio offers expansion opportunities for EPP

By: Anine Kilian     4th December 2017 A portfolio of 12 retail properties in Poland being acquired by JSE-listed Echo Polska Properties (EPP), offers “substantial” expansion opportunities, says EPP CEO Hadley Dean. EPP in October announced that it would acquire the 12 properties, which includes eight shopping centres and four retail... 

Polish coal miner JSW's Q3 profit falls short of estimates

By: Reuters     17th November 2017 JSW, the European Union's biggest coking coal producer, reported a net profit of 360-million zlotys ($100.3-million) in the third quarter compared with a net loss of 139-million zlotys a year ago, thanks to higher coal prices and lower costs. The third-quarter bottom line in the state-run JSW... 

Redefine expands Poland portfolio

By: Natasha Odendaal     6th November 2017 As JSE-listed Redefine Properties implements several small incremental adjustments to withstand the current economic headwinds, the real estate investment trust (Reit) is in the midst of concluding a strategic acquisition that will expand its international footprint further. Redefine will buy a... 

In the country where coal is king, a battle with the EU looms

By: Bloomberg     6th November 2017 The buzzword in the Brussels energy and climate bubble is 450, a number that is dividing European Union lawmakers and making coal-dependent Poland fume over upcoming reforms to the world’s biggest carbon market. Negotiators representing the 28-nation bloc and its member states will meet on Nov. 8... 

KGHM plays down recent breakdown impact

By: Reuters     17th October 2017 Polish copper producer KGHM Polska Miedz said on Tuesday it expects no big negative impact on sales or core earnings from the recent breakdown of a smelter in the city of Glogow. "We hope that we will be able to recoup some losses," CEO Radoslaw Domagalski-Labedzki told reporters. 

Line 7 upgrade project, Poland

By: Sheila Barradas     8th September 2017 PKP Polskie Linie Kolejowe plans to upgrade two sections of Line 7. 

Polish coal mining swings to profit on prices, restructuring - PAP

By: Reuters     22nd August 2017 Net profit at Polish coal mines stood at 1.45-billion zlotys ($400.06-million) in the first half of the year compared to a 800-million zlotys loss a year earlier amid higher coal prices and restructuring, data from a state agency showed on Tuesday. Data by the Industrial Development Agency... 

China's new Silk Road encroaches on US turf in Eastern Europe

By: Bloomberg     12th July 2017 In the 19th century mansion in central Belgrade where bureaucrats plan some of Serbia’s important overseas projects, 64-year-old Ivan Mrkic is busy unpacking boxes teeming with the books, research papers and maps he needs to become an instant expert on China. Mrkic, a one-time Foreign Minister,... 

Poland sees Trump visit catalyst to cut Russian gas reliance

By: Bloomberg     5th July 2017 Polish leaders are betting Donald Trump’s visit to Warsaw starting on Wednesday, two days before the US President meets his Russian counterpart, will bolster their efforts to reduce the nation’s dependence on natural gas from its eastern neighbour. Less than a month after Poland’s Baltic Sea... 

EPP continues to see organic, acquisitive growth opportunities in Poland

By: Megan van Wyngaardt     29th June 2017 Having followed an aggressive strategy and completing five acquisitions in the three months ended March 31, JSE-listed real estate investment trust (Reit) Echo Polska Properties (EPP) is set for strong distribution growth in the year ahead, having reported distributable income a share of €2.74... 

Polish coal affection poses dilemma for funding-thirsty firms

By: Bloomberg     8th June 2017 As Poland is reluctant to budge in its feud with Europe over coal, some of the country’s biggest power and mining companies admit it may be the time to change the course. The EU’s largest eastern economy argues it needs coal plants, fired by local resources, to ensure energy security and cheap... 

Alstom receives order in Canada

2nd June 2017 Railway systems and equipment company Alstom has been awarded a firm order for the supply of 61 Citadis Spirit light rail vehicles for the Greater Toronto and Hamilton area by Ontario government agency Metrolinx.  

EPP acquires mixed-development property in Poland

By: Anine Kilian     10th March 2017 JSE-listed Echo Polska Properties (EPP) has concluded an agreement to acquire 70% of the mixed-use Galeria Mlociny shopping centre, in Warsaw, Poland. The investment will be effected through EPP’s acquisition of 70% of the equity in Rosehill Investments, for an aggregate consideration of... 

Echo Polska posts solid maiden results

By: Megan van Wyngaardt     9th March 2017 In its first half-year since listing on the JSE, international real estate investment trust Echo Polska (EPP) has posted distributable earnings of €34-million, while declaring a dividend per share of €0.31, 2.2% ahead of its forecast. "We are building a national champion that leverages its scale... 

Echo Polska lists on JSE, taps investors into central Europe market

By: Megan van Wyngaardt     13th September 2016 Warsaw-based real estate investment fund Echo Polska Properties (EPP) on Tuesday started trading on the main board of the JSE under the name PolskProp. EPP’s portfolio comprises six office and ten retail projects across the European country, with a gross lettable area (GLA) exceeding 424 216 m2.... 

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