NWR said last week that it would divest Czech and Polish mining units, OKD and Karbonia, if the company did not receive sufficient support from investors over a proposed capital restructuring by September.
Czech Republic Industry and Trade Minister Jan Mladek said that the government prefers OKD to be acquired by a strategic investor engaged in coal mining.
OKD currently operates four coal mines in Czech, including the Karviná mine, the CSM mine, the Darkov mine, and the Paskov mine.
In 2013, OKD produced 8.8 million tons of coal and accounted for majority of NWR’s €850m revenues. For the quarter ended in March, NWR reported a loss of €26.9m compared with €110.2m in the year-ago period.
The company has a an outstanding debt of €825m as it has been hit by dropping coal prices globally due to increased use of cheaper and cleaner energy sources.
