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Report: Polish miner PG Silesia eyes state-owned Tauron's Janina coal mine

Polish mining business PG Silesia is looking to acquire state-run utility TAURON Polska Energia SA's Janina coal mine in southern Poland, Reuters reported Sept. 24, citing a local newspaper quoting unnamed sources.

In May, Tauron was considering selling Janina to cut carbon emissions and move toward greener energy.

The Dziennik Gazeta Prawna newspaper said coal production at the mine is expected to fall by 1.2 million tonnes in 2019 from about 5 Mt in 2018.

Moreover, Tauron will have to write-down the unit's value by 269 million zlotys in its financial report for the first half of 2019, Reuters added, citing the Dziennik Gazeta Prawna report.

PG Silesia has yet to comment on the scenario.

As of Sept. 23, US$1 was equivalent to 3.99 Polish zlotys.