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Provider: Thomson Reuters Stock Report
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New World Resources PLC to Close Paskov Mine

Tuesday, 17 Sep 2013 01:07pm EDT 

New World Resources PLC (NWR) announced that NWR and OKD a.s. wish to update the market regarding the Paskov mine. The Company announced on July 15, 2013 that, as a divestment of the Paskov mine appears unlikely, the Company has been evaluating other scenarios including a temporary or permanent shutdown of the mine. The Company concluded that the Paskov mine is likely to remain uncompetitive in the medium term, and therefore has decided to close the mine with the phasing and terms of such closure to be determined after discussions with the Czech government and other stakeholders. NWR will update the market in due course. 

Company Quote

0.125 +10.20%
8:08am EDT