New World Resources to Sell OKK Coking Plant

Mineweb reported that by the end of 2013, New World Resources plc, a Czech coal mining group, will close a deal to sell its OKK coking plant.

As quoted in the market news:

The company has been in talks with undisclosed parties to sell the unit as part of its drive to raise money as it bleeds cash due to low coal prices on the global market.

‘We are in the final phase of discussions with potential buyers and I expect that the transaction will be completed in the coming months,’ NWR board member and executive director Jan Fabian said in a television debate.

Click here to read the full Mineweb report.