A Czech coal mining group New World Resources official said on Sunday that the company would close a deal to sell its coking plant. NWR's OKK coking plant was said to be sold by the end of the year. The company had been in discussions with unnamed parties to sell the unit. This was NWR's move to raise money keep up with its operations as low coal prices hit the global market, said a Reuters report.
In a television debate, NWR board member and executive director Jan Fabian said, "We are in the final phase of discussions with potential buyers and I expect that the transaction will be completed in the coming months."
Fabian also added that the company would look for a deal under which the buyer would continue to take coal supplies from NWR. This would be the pillars of the agreement the company would propose to interested parties.
Earlier this year, Poland's JSW JSW.WA said they had been looking at some NWR assets. Meanwhile, a report from Czech news website www.aktualne.cz reported that Czech businessman Petr Otava was interested in NWR's OKK coking plant.
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