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NWR to explore hard coal deposit at Frenstat

26th Sep 2011 16:35

RNS Number : 9380O
New World Resources Plc
26 September 2011
 



Amsterdam, 26 September 2011

 

New World Resources Plc to explore hard coal deposit at Frenstat

New World Resources Plc ("NWR" or the "Company"), one of Central Europe's leading hard coal and coke producers, today announces its intention to explore the hard coal deposit at the Frenstat Mine site in the northeast of the Czech Republic which is estimated at approximately 1.5 billion tonnes of hard coal resources, based on NWR's own calculations.

 

The exploration process is expected to take four years to complete, after which NWR will decide on the feasibility of developing the resource.

 

Although NWR holds a concession to exploit hard coal from the Frenstat Mining area, the deposit is currently not included in NWR's official JORC reserves.

 

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For further information, please contact:

Investor Relations Corporate Communication

Tel: +31 20 570 2270 Tel: +31 20 570 2229

Email: [email protected] Email: [email protected]

 

Website: www.newworldresources.eu

 

About NWR

 

NWR is one of Central Europe's leading hard coal and coke producers. The Company produces quality coking and thermal coal for the steel and energy sectors in Central Europe through its subsidiary OKD, a. s. ("OKD"), the largest hard coal mining company in the Czech Republic. NWR's coke subsidiary, OKK Koksovny, a. s. ("OKK") is Europe's largest producer of foundry coke. NWR currently has two development projects in Poland, Debiensko and Morcinek, which form part of NWR's regional growth strategy. NWR is a FTSE 250 company, with listings in London, Prague and Warsaw.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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