New World Resources looking at coking coal asset divestments

European coal producer New World Resources plc (NWR) said it has been soliciting bids for parts of its coking subsidiary OKD A.S. and other assets following its announcement that it was looking to offload the division.

In May the company said it had started the divestment process of its subsidiary following deterioration in the coal markets in previous months.

Responding to recent media reports of a potential sale, the company said: “This process is currently underway: NWR is soliciting bids for the coking subsidiary and, as part of the testing, for certain other assets, including the Paskov mine, and is in dialogue with potential buyers.”

NWR’s OKD subsidiary includes the Karvina, CSM and Darkov mines in the Czech Republic– all of which hold coking coal reserves, in addition to three other development projects. 

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