(24,95 CZK, 1,01%) and Industry Minister Jiri Cienciala will sign memorandum of understanding on planned closure of Paskov mine today, CTK reports, citing ministry spokeswoman Jana Dronska. has recently confirmed it’s in talks with Czech state about extending co.’s operation of Paskov mine until Dec. 31, 2016, then transferring ownership for symbolic 1 CZK for closure. Parties seeking solution by March 31, 2014.
/The cost related with Paskov mine closure may double for the company when compare to the previous aim of shutting the mine until the end of 2014. Nevertheless, we rather wait for more details. Please note that when stable coking coal prices are taken into account – the annual loss in Paskov would be around 50 mln. EUR – therefore, may lost up to 150 mln. CZK in 3 years in Paskov vs. 50-75 mln. EUR relating to this year closure.