POP 2010
Sverma coking facility to remain operational
New World Resources N.V. (“NWR” or the “Company”), Central Europe’s leading hard coal producer, today announces its decision to defer the planned shutdown of its Sverma coking facility, as recent market trends indicate an upturn in the regional coke market.
NWR’s Board of Directors has decided to keep the last remaining battery of the Sverma coke production facility operational in order to benefit from increased coke orders and price improvements seen in the course of the last few weeks.
Despite the recent improvement in coke demand, visibility remains limited and NWR reiterates its intention to fully shut down the Sverma facility in due course as part of its Coking Optimisation Programme 2010 (“COP 2010”) under which NWR will centralise coke production at its Svoboda plant.
In the meantime NWR will continue to monitor local developments closely for the precise phasing out of operations at Sverma to be in line with market conditions.
The Sverma plant will continue operating one coking battery, which has an annual production capacity of 400kt. NWR expects to produce between 700kt and 800kt of coke in 2009.
New World Resources N.V.
New World Resources N.V. is the sole owner of OKD, a.s., the Czech Republic’s largest hard coal mining company and one of the largest producers in Central Europe by revenue and volume. Serving customers in the Czech Republic, Slovakia, Austria, Poland, Hungary and Germany, the Company produced 12.7 mt of coal in 2008, 7.4 mt of which was coking coal.
For further information please contact:
New World Resources N.V.
Investor Relations
Tel: +31 20 570 2270
Email: ir@nwrgroup.eu
Corporate Communication
Tel: +420 225 282 163
Email: petra.masinova@okd.cz
Website: www.newworldresources.eu
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