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Glossary / O 

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OECD:

Organisation for Economic Co-operation and Development is an organisation that acts as a meeting ground for 30 countries which believe in the free market system and provides a forum for discussing issues and reaching agreements, some of which are legally binding.

OKD

the wholly owned mining subsidiary of NWR. OKD extracts coking and thermal coal in four active mines in the Upper Silesian Coal Basin. OKD is the only hard coal mining company in the Czech Republic.

OKD Foundation:

OKD Foundation was set up at the start of 2008 with a view to promoting and developing humanitarian values, the environment, education, sport and cultural activities, and the field of social and healthcare services. OKD Foundation was established by the NWR subsidiary OKD, which is also the Foundation’s biggest donor. OKD annually donates 1 per cent of its profit before tax to OKD Foundation.

OKK:

a wholly owned coking subsidiary of NWR. Situated at the Svoboda coking plant site in Ostrava, produces both foundry and blast furnace coke from four batteries. OKK is the largest producer of foundry coke in Europe.

Open-pit mining:

mining in which the coal is extracted after removing the overlying strata or overburden.

Operational Programme ‘Environment’:

the Operational Programme‘s main goal is to protect and improve environmental quality throughout the Czech Republic.  Between 2007 and 2013, this programme will offer almost EUR 5 billion from the Cohesion Fund and the European Regional Development Fund.