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Oil Report

Czech Republic, Poland sign coal reserves deal

PRAGUE, Aug 19 (Reuters) - The Czech Republic and Poland signed a deal on Tuesday which will enable companies from both countries to explore cross-border deposits in the region, the Industry and Trade Ministry said in a statement.

Czech coal miner NWR NWRS.LNWRSsp.PR has been aiming to gain access to more coal deposits in the region and last year signed a deal with Polish state-owned company Jastrzebska Spolka Weglowa to develop mines in southern Poland.

The agreement will enable the Netherlands-based NWR, which controls the biggest Czech hard coal mine company OKD, to explore the Czech-Polish border for coal reserves and launch feasibility studies for mining the Morcinek field deposits in the region, NWR’s spokesman Vladimir Bystrov said. (Reporting by Jan Korselt; Writing by Jana Mlcochova; editing by Sue Thomas)

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