Czech-based coal miner New World Resources is considering the closure of its Paskov hard coking coal mine in the Ostrava region to cut operational costs by €100 million amid falling commodity prices, according to media reports.
NWR said that the sale of the Paskov mine is unlikely at present and the decision about the permanent closure of the mine is expected in the coming weeks.
The company is also seeking the sale of OKK, a coke project in the Czech Republic, which is expected to cut down capital expenditure and wages by 10 percent.