Mission, vision and values
JSW Group operates in a complex social and economic environment. Extractive activities are carried out in difficult geological and mining conditions therefore they are fraught with multiple risks. The large depths of over 1000 metres where mining takes place, complicated tectonics and the geomechanical properties of rocks (rock mass) make mining operations substantially more difficult. A superbly trained crew with considerable experience and a technical and organisational culture have nonetheless developed a range of solutions that make it possible to achieve production targets.
Swings in product sales prices, which are correlated with global economic cycles, have a major impact on the Group's activities. The strategy in place takes into account the identified risks and conditions as it sets out the main operational directions within the strategy time-frame. Actions taken by competitors, changes in the Group's financial situation and the target shape of coking coal and coke sales markets, mainly its allocation capabilities, necessitate continuous monitoring and adaptive measures for the Group's operations.
Furthermore, events and conditions that had a material impact on the achieved results (e.g. by lowering output and increasing costs) include extraordinary events caused by natural hazards present in underground mining facilities and external factors - the pandemic. A range of activities in response to the pandemic were undertaken in 2020 with the intention to minimise the potential effects of the virus spreading amongst JSW employees - especially in the mines.
Additionally, there is a growing pressure on economic entities in the extractive and steel industry due to legislative changes and the EU's climate and environmental policy.
Significant factors for JSW Group's development
- pandemic-related disruptions in the company's operations,
- changes in EU climate policy,
- economic trends in domestic and global economy,
- cyclical nature of industries consuming coal and coke,
- changes in demand and prices for the Group's products,
- situation on the steel market,
- level of imports of products that the Group sells,
- sea freight rates,
- unplanned shut-downs of steel production capacities,
- investments (or their lack) in new steel production capacities,
Internal factors
- costs of producing coal and coke at the Group, having impact on sales profitability,
- quantity and quality of coal extracted and coke produced by the Group,
- investments resulting in improvements in efficiency and effectiveness of coal and coke production,
- level of safety in production processes,
- intensity of natural threats and tectonics of mines,
- extraordinary events that can disrupt production processes,
- breakdowns of machines and mining equipment used in production processes,
The 2020-2030 strategy for JSW S.A. and subsidiaries, adopted in 2020, constitutes a response to the challenges resulting from a dynamically evolving market situation and economic environment, changes in the Group's capital structure as well as the intention to strive for stable, long-term development.
The strategy outlines the Group's development directions, highlighting the strategic areas where the Group will be focusing, and in particular defining the Group's mission, vision, strategic objectives, ways to build competitive advantage and strategic assumptions for each area of the Group's operations.
JSW Group's mission
is to strengthen its position as leading producer and supplier of coking coal and coke in Europe in a way that ensures growth in the Company's value, whilst taking into account stakeholder expectations.
JSW Group's vision
We are certain that building our Group’s value on the basis of ethical principles and in dialogue with stakeholders constitutes an essential element of long-term management strategy.
We are convinced that building the value of our Group based on ethical principles and in dialogue with stakeholders is an indispensable element of a long-term management strategy.
We are a company that is continuously learning, drawing on best practices, striving to be a socially responsible enterprise and contributing positive values to our relations with the surroundings in which we live and work and, most importantly, with our customers, suppliers, shareholders, neighbours - in places where our facilities are located - as well as trade unions and employees.
The management approach to these issues is set out in JSW Group's Sustainability Strategy 2021-2030, which is an element of JSW Group's Strategy and is based on seven areas that serve as our objectives.