In accordance with the mining law, the mining organization transfers funds to the account of the relevant mining authority as a tax from the exploited reserved minerals. Subsequently, the mining authority transfers an appropriate part of these revenues (originally 50 %, now 25 %) to the national budget. These funds are then released in relation to the relevant decree of the Czech government on the basis of a request by the mining organization for selected sanitatation and reclaiming operations as an environmental subsidy. Thus, these are funds of mining organizations which are redistributed by the state.
In case the territory was afflicted by mining activities prior to 1992, the costs related to its reclamation are covered from privatization revenues administered by the National Property Fund.
OKD, a.s., has been currently exposed to fraudulent activity by unknown individuals in Germany.
Full version of the document in English and German is here.
This policy was adopted by the Board of Directors of New World Resources Plc on 15 November 2011 and shall have immediate effect.
Full version of the document is here.
The Board of Directors of OKD has adopted a Company code of ethics that is obligatory for all the employees of the firm. It defines basic values and attitudes to enterprise that OKD conforms to in the course of its business activities.
The code of ethics is not any binding rule of law or internal directive, it represents, however, a moral obligation for each employee of OKD.