Velenje Coalmine Finishes Year With a Loss

The Velenje Coalmine recorded SIT 834 million (4.12 million euros) in losses during 1999, despite a 2.3 reduction in operational costs. The loss is a consequence of a four-month overhaul of the Sostanj steam power station, which resulted in a significant fall in the turnover of the company. The company increased it share of income from sales excluding the sale of coal by 53 percent to SIT 2.7 billion (13.36 million euros). The Velenje Coalmine was said not to be in debt during 1999, was reported in the operational report for the coalmine.

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