Deals
NWR in Talks to Sell Idle Mine to Czech Government for 1 Koruna
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The Czech government may buy idle Frenstat mine from New World Resources Plc for 1 koruna (4 cents) as part of the unprofitable coal producer’s reorganization, Industry and Trade Minister Jan Mladek said.
NWR, which said two months ago that it risks running out of cash, will hold more talks with the government on the potential transaction and other changes at the Czech mining unit, OKD AS, Mladek told reporters on Thursday. Mladek, Finance Minister Andrej Babis and Labor Minister Michaela Marksova met with NWR managers and bondholders in Prague.