NWR Announces Investment Program

New World Resources N.V. (NWR) has announced plans for a major capital investment program of approximately €300 million at its wholly-owned subsidiary OKD a.s., the Czech Republic’s largest hard coal mining company. The capital investment program involves the acquisition of 10 new longwall mining systems and 12 new sets of gateroad development equipment for OKD’s mining operations and is expected to be purchased and rolled out in phases over the coming 24 months. A Letter of Intent to purchase the equipment has been signed with Bucyrus International. The new equipment purchased as part of the capital investment program is expected to increase operating efficiency and to enhance productivity and safety.
As featured in Womp 07 Vol 9 - www.womp-int.com