NWR announced on 15 July 2013 that, as a divestment of the Paskov mine appears unlikely, the company has been evaluating other scenarios including a temporary or permanent shutdown of the mine.??
Today, the Company concluded that the Paskov mine is likely to remain uncompetitive in the medium term, and therefore has decided to close the mine with the phasing and terms of such closure to be determined after discussions with the Czech government and other stakeholders.
With state support, it is willing to keep the mine open another five years. NWR will update the market in due course. First Vice Chair Michal Hasek of CSSD (leading party in polls) said the problems at OKD should be dealt with primarily by the owner, meaning mainly Bakala. Hasek said he cannot imagine giving state support with the current ownership and management structure in place /Slightly positive, Paskov mine is one of the most costly in the world and loses 1.5 bln CZK (60 mln. EUR) per year at a price of 92 EUR/ton for coking coal. Shut down could cost 1-1.5 bln. CZK. Also note the mining unions at OKD announced a protest on Sept. 17 for warning against the consequences to employment if the Paskov mine is closed and for calling for “decent” wages.