Prague-listed Czech coal miner NWR reported a 22 percent rise in EBIDTA for Q4 2010 on the back of higher commodity prices and increased demand. “[We] expect demand for coking coal in the CEE region to remain robust, driven by a continuing recovery in the automotive and construction sectors,” NWR head Mike Salamon said, noting recovery in CE’s industrial sectors should underpin demand for thermal coal.
New World Resources (NWR), a leading Central European hard coal and coke producer, announced Monday that the company’s board of directors has given final approval for a project to extract coal from the Dębieńsko mine in Poland.
Prague-listed energy group New World Resources (NWR) is looking for a partner from within the Polish mining sector to help develop its Dębieńsko mine project, the Polish daily Parkiet reported on Monday.
Komerční banka (KB) said Monday it has downgraded its recommendation on Prague-listed mining and energy group New World Resources (NWR) to ‘Hold’ and decreased its target price to Kč 320 to Kč 305.
Prague-listed New World Resources, controlled by Czech billionare Zdeněk Bakala, is putting up prices for coking coal and coke amid buoyant demand, mainly from steelmakers, and has outlined its plans to get onto the prestigious FTSE 250 by June.
Těžařská společnost NWR spojená se jménem podnikatele Zdeňka Bakaly měla velké ambice v Polsku a chtěla stanout v čele „regionální konsolidace“. Nyní je zadlužená NWR ve velké krizi, horko těžko čelí nízkým cenám uhlí a obrací se pomalu s prosíkem na polské společnosti, aby od Bakalovy firmy kupovaly různá aktiva. Dřívější nezdary NWR vrhají pochybnosti i na její budoucí plány.
New World Resources (NWR) has announced a second fatality at the Karvina Mine of its Czech coal mining subsidiary stemming from an accident. A 42-year-old miner was killed on Thursday as a result of a rock bounce, two days after a 45-year-old miner was fatally injured there in the same type of accident.
Tough market conditions, especially for the steel companies using its coke, translated into a flat underlying profit figures for mining company New World Resources (NWR) in 2011. The coke division actually made a loss. NWR has set its sights on slightly lower coal and coke production this year but hopes for a slight rise in coke sales.
Mining company NWR, whose most lucrative market is the supply of coking coal to major Central European steelmakers, delivered first quarter sales and production figures and second quarter coking coal price agreement details which came in ahead of expectations.
NWR, the largest Czech coking-coal producer, offered €857 million in cash for Polish thermal coal producer Bogdanka, but the takeover bid failed. With demand for commidites rising along with the global economic recovery, NWR is still hungry for acquisitions — in Poland and Ukraine.
The Prague bourse’s blue-chip PX index broke out of the 1,100-1,200 point corridor on the last trading day of 2010 — passing that psychological barrier for only the second time since May, thanks in large part to the strengthening of European equity markets in recent weeks. Mining group NWR was hands down the year’s best-performing stock, and developer ECM the biggest loser.