Czech state to give 600 million crowns for Paskov mine phase-out


22.04.2014 14:18

Prague - The Czech state has agreed with the New World Resources (NWR) on that mining in the black-coal mine Paskov will continue for three years and that the government will provide 600 million crowns for social programmes for the miners, Robert Pelikan, from the Finance Ministry, said today.


Důl Paskov společnosti NWR (na snímku z 19. září 2013). ČTK Ožana Jaroslav

Industry and Trade Minister Jan Mladek said the government will be approving the agreement on a phase-out of the north Moravian mine at its meeting on April 28.

The final version of the agreement is in harmony with that on which Finance Minister Andrej Babis reached agreement earlier this month.

Pelikan, director of the Finance Ministry´s legislative department, said the agreement is an acceptable compromise for the state.

"The state will not have to spend a sole crown until [the mine owner] OKD [which is owned by NWR] meets all its commitments, until it ensures the full operation of the mine until end-2017," Pelikan said.

He said the agreement contains mechanisms that will ensure that the state aid goes exclusively to the miners, not the share-holders.

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