Paskov mine will not stay open beyond 2014 without outside help

CEO of the company OKD, Ján Fabián, has said that his company will not keep the Paskov coal mine open beyond the end of 2014 with its own finances. Speaking on the Sunday Czech TV talk show, Mr. Fabián said that between 400 and 750 workers from the Paskov mine will be moved to the company’s other mines in the next few months, while a few hundred will remain in Paskov until its final closing. The mine currently employs around 3,000 people. Mr. Fabián said that he is open to discussions with the government about possible state support in order to keep the mine open longer. Prime Minister Rusnok said last week that no subsidies will be provided to OKD from state funds, though both he and President Zeman plan to meet with representatives of OKD and its parent company New World Resources next week.

Author: Masha Volynsky