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New World Resources PLC Starts Coking Unit Divestment Process-DJ

Wednesday, 3 Jul 2013 02:09am EDT 

Dow Jones reported that New World Resources PLC said it has started the divestment process of its coking subsidiary and has been conducting stress tests to identify individual mines or sections of individual mines at its mining subsidiary, OKD a.s., that could be idled or divested. This process is currently underway. The Company is soliciting bids for the coking subsidiary and, as part of the testing, for certain other assets, including the Paskov mine, and is in dialogue with potential buyers. No decisions have been made in respect of these assets. 

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11:06am EDT