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Media Room

Polish coal miner JSW returns to profit in first quarter

Poland's JSW, the European Union's biggest coking coal producer, reported on Wednesday it made a net profit of 864.53-million zlotys ($231.3-million) in the first quarter, thanks to a surge in coal prices and cost cutting. Analysts had expected JSW to report a net profit of 744-million zlotys, the company having made a net loss of 60-million zlotys in the same period last year.

Rio Tinto seeks to reduce debt through $2.5bn bond buyback

Global mining giant Rio Tinto on Monday launched a $2.5-billion bond buyback plan to reduce its gross debt. Under the plan, Rio Tinto has issued a redemption notice for $1.72-billion of its 2019 and 2020 dollar-denominated notes and started cash tender offers, through Rio Tinto Finance, to buy up to $781-million of its five 2021, 2022 and 2025 dollar-denominated notes.

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