Top EU Miner Faces Uphill Battle to Tame Accelerating Cash Burn

JSW SA has asked Poland’s social security office to allow it to delay this year’s payments in the latest sign of the struggles the European Union’s biggest coking coal miner is facing as it burns through more cash amid dwindling prices and rising costs.

The state-controlled company wants the authorities to let it pay the 1.3 billion zloty ($345 million) due this year in installments starting in January 2026, it said in a statement on Friday. It’s the second time this week that the miner of coal for steel production is seeking financial relief from public institutions. On Monday, it said it would apply for a 1.6 billion zloty refund from the country’s power price subsidy fund.