Coal mining no longer pays

The Hornonitrianske bane mine in Prievidza (Peter Čičmanec) posted a huge €25.2m loss last year and its sales fell 9% to €84.8m. Since 2010 it mostly reported profits between €0.6-2.9m. Its mining volume fell to 1m tons of coal from 1.8m tons in 2015 and 2.1m tons in 2010. Its coal mining will stop at the end of 2023 after state subsidies are withdrawn. It employs 2,755, of whom 1,474 miners work underground.

(teraz.sk)