Czech coal miner NWR narrows Q1 loss, capital review continues

PRAGUE Wed May 14, 2014 2:18am EDT

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PRAGUE May 14 (Reuters) - Czech hard coal miner New World Resources (NWR) narrowed its loss in the first quarter to 26.7 million euros ($36.6 million) as it cut costs to cope with weaker prices.

NWR, which is carrying out a capital structure review, said on Wednesday the pricing environment was clearly a challenge and that it was too early to judge some tentative signs of recovery, such as rising steel production in its core markets.

The company said talks with shareholders and bondholders over its capital structure, continued with an expected resolution by the end of 2014.

($1 = 0.7296 Euros) (Reporting by Jason Hovet; Editing by Mark Potter)

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