Czech-based coal miner New World Resources (NWR) has announced that it has completed the sale of its coke subsidiary OKK Koksovny, a.s. (OKK) to the Czech-based METALIMEX Group for €95 million.
NWR said that the freed-up cash from the divestment of OKK will be reinvested in the company's core business including
mining equipment and mine expansion projects. The divestment was also a part of NWR's plan to become the Europe's leading miner and marketer of
coking coal by 2017.