In view of the world’s recent changes in the mineral market, it is becoming increasingly important to ensure the sustainable and secure supply of raw materials, both within the European Union and in other high-developed countries. In response to this global challenge, as part of the European Commission’s Horizon 2020 Program for Research & Innovation, the 36-month INTRAW project was launched in February 2015 to foster international cooperation on raw materials. The EU-funded INTRAW project was set up to map and develop new cooperation opportunities related to raw materials between the EU and other technologically advanced countries, such as: Australia, Canada, Japan, South Africa and the United States. The first stage of the project was a review of conditions for the stable supply of raw materials from primary and secondary sources in selected countries: the United States, Canada, Australia, South Africa and Japan. The results of the work are two groups of comprehensive reports. The first of these is a broad contextual analysis of geological, environmental, political, technical -economic and social factors conducive to the effective management of mineral resources. The second group is operational reports, carried out in three thematic blocks: industry and trade, research and innovation, education. The analysis clearly shows that the basis for effective action in this area is a stable political, economic and institutional environment, which is friendly to mining and new entities wishing to invest in modern technologies, the exploration and exploitation of deposits. Investors are encouraged by tax regulations, sometimes also by direct government financial support and efficient licensing procedures. The well-defined protection of property rights, also for deposits is equally important. Selected aspects of a wide analysis of determinants of competitiveness for these countries were presented in the article below.

The paper presents areas where the EBITDA measure is used in coal companies. The metric and the ratios where it is utilized are employed to assess companies and management efficiency, hence they are used as criteria for rewarding board members. EBITDA-based ratios are also used to evaluate the profitability of company restructuring and its goodwill in mergers and acquisitions. EBITDA, also tends to be used to value companies on the capital market. It is a good tool for efficiency assessment in coal companies with relatively stable fixed assets and small share of intangible assets, which amortized over short periods of time could interfere the comparability of relations based on this measure. The comparability is also disturbed by large investment expenditure incurred in the short term. This does not apply to the mining industry, in which investment cycles are long, last several years and expenditures are spread over time. In addition, the rate of technical progress imposing the need to implement large technology projects is not high compared to technology companies with high development dynamics.

EBITDA based ratios were used to assess a number of listed coal companies. The analysis revealed that the profit/loss of these companies is mainly determined by coal prices. The cost of coal mining is 90% fixed and projects undertaken to reduce it bear fruit only over the long term. Cyclically changing coal prices cause major losses in companies when prices are low, which leads to bankruptcies or a need to restructure. After a period of decline in 2014–2016, the profit/loss of Polish coal companies as well as companies from around the world improved in 2017–2018. T he financial standing of Polish companies was better than that of their counterparts from other parts of the world.

The 13th-century Persian poet Saʿdi from Shiraz is considered to be one of the most prominent representatives of medieval Persian ethical literature. His works full of moralizing anecdotes were well known and widely read not only in Persia, but in the other parts of the Islamic world as well. Due to his highly humanistic approach, the relations between people were one of the most important issues discussed by the poet. This article is an attempt to define the status of ‘speech’ in Saʿdi’s moral imagination and to show how it becomes a key instrument in shaping relations with others. In the poet’s opinion, the right words reasonably spoken, just like an appropriate silence, shape the relationship between people and help them avoid conflict and open dispute. Quarrels and confrontations, according to the poet, not only damage a person literally by exposing his flaws and imperfections of character, thereby compromising his reputation (aberu), but may also undermine the basis of social life, generating hostility between people. That is why Saʿdi urges his readers to use soft and gentle speech in dealing with people and always behave in a conciliatory manner in response to aggression and rudeness. Highlighting the moral aspect of speech, Saʿdi shows how kind words form an invisible veil between people, which should be preserved if man desires to maintain his image, good name and dignity.