Amsterdam, July 17th 2008 - New World Resources N.V. ('NWR' or 'the Company'), Central Europe's leading hard coal producer, regrets to announce a fatality at the Paskov Mine of OKD, its wholly owned Czech subsidiary.
A 39 year-old miner employed by Carbokov, a company contracted by OKD, was fatally injured by falling rock approximately 900m below ground on the afternoon of July 17th. Despite the immediate assistance of a rescue team from OKD's Mining Health and Safety Services subsidiary, HBZS, and the presence of an emergency physician underground, attempts to save the man were unsuccessful.
Mining in the particular area of Paskov Mine was temporarily suspended, while mining in other areas of Paskov Mine continued without restrictions.
NWR extends its sincere condolences to the family, relatives and friends of the man.
In light of this fatality and the two fatalities that occurred at OKD's Darkov Mine on July 10th, Klaus-Dieter Beck, Chief Executive Officer of OKD and an Executive Director of NWR, has ordered the suspension of production at all OKD mines for one hour during all four shifts on Friday, July 18th.
'The recent incidents are extremely concerning and I have decided to call for a one hour suspension of production during all four shifts on July 18th so that we can all pay our respects and honor the recently deceased miners with a minute's silence, and also to remind every single miner about the importance and seriousness of our safety activities,' said Dr Beck.
'Earlier this year we implemented new safety initiatives which resulted in a substantial reduction in our accident rates, by 23% year-on-year to June 2008. Even though the recent events are a considerable setback to the progress achieved, we are now even more committed to working to improve our safety procedures, as nothing is more important to us than the safety of our employees,' added Dr Beck.
An investigative committee comprised of members of the Ostrava Mining Authority, Paskov Mine management, the trade union, and other OKD representatives is now conducting an investigation into the accident. No further information will be released until the committee has concluded its work and completed its report.
Notes for editors:
New World Resources N.V.
New World Resources is the sole owner of OKD a.s., the Czech Republic's largest hard coal mining company and one of the largest producers in Central Europe by revenue and volume. Serving customers in the Czech Republic, Slovakia, Austria, Poland, Hungary and Germany, the Company sold approximately 13.1 mt of coal in 2007, over 6.8 mt of which was coking coal supplied to its steel industry customers.
For further information please contact:
New World Resources N.V.
Agnes Blanco Querido
Tel: +31 20 570 2270
Tel.: + 420. 602. 683230
Citigate Dewe Rogerson
Andrew Hey / Toby Moore
Tel.: + 44. 207. 638 9571