Poland Sees Coal Mining Restructuring Costs at $631 mln

Poland expects the costs of restructuring its ailing coal mining industry to be 2.3 billion zlotys ($631.24 million) in 2015-2016, with the plan including shutting down four mines owned by Europe's biggest coal producer Kompania Weglowa.

The government said in a statement on Wednesday that Kompania Weglowa's remaining nine mines would be transferred to a special purpose company owned by Polish coal trader Weglokoks.

Poland's state-owned coal mines have been struggling for months to return to profit as they cope with low coal prices, weak demand and high operating costs.

Reporting by Pawel Sobczak