Open Mine / Open Mine 

01/2011 - 10/3/2020

Open Mine 01/2011Open Mine [2 298kB, PDF]

Dear readers,

2010 saw a strong economic revival in Central Europe with a consequent increase in demand for coking coal and coke. It was a good year for NWR, and for most of our customers and partners, and the economic downturn now appears to be behind us. Our revenues grew by 40%, EBITDA increased by one and a half times and operating cash flow was 80% higher than in 2009. We were able to pay a dividend of EUR 0.43 per share for the year as a whole, marking a return to our long-term dividend policy of distributing 50% of our net profit.

There has been a pick-up in the automotive industry and related sectors and 2011 looks promising for coal and coke sales. Both globally and in Central Europe, demand for coking coal has undoubtedly been influenced by the dramatic events in Australia. You can read about the factors influencing the global coal and coke business, as well as the practical aspects of negotiating coal prices, in an interview with Petr Otava, who is responsible for our coal and coke sales.

We are making significant progress with our Debiensko project in Poland. The exploratory works have been completed and we plan to break ground before the end of the year. The mine should be fully operational within five years.

Importantly, we will reincorporate NWR in the UK this year, making us eligible for inclusion in the FTSE indices. While this will mean absolutely no disruption to our daily business, the positive impact on our equity story should be significant.

You can find more information about our plans and developments within NWR in the following pages. And I am delighted that from this issue, Open Mine magazine is available in three languages – English, Czech and Polish.

Enjoy your reading.

Marek Jelínek
Chief Financial Officer
New World Resources N.V.

  • 2010 Highlights - On 24 Feb 2011, NWR announced a strong set of results for the financial year 2010…
  • Coal trading is a special specialisation - The glass-walled high-rise tower above the port in Prague’s Holešovice district used to house the headquarters of Kovo ...
  • Safety Levels Improve at NWR Mines - Employee safety is an absolute priority for NWR. That is why the Company continues to work at improving safety standards and reducing the risk of occupational injury at its subsidiaries OKD and OKK Koksovny. Key safety indicators for 2010 illustrate a positive trend, demonstrating the merit of measures and initiatives designed to put the Company on the right path where safety is concerned.
  • Continuous Improvement - NWR’s Continuous Improvement programme enhanced safety and reduced costs in 2010 ...
  • Returning the Landscape to Nature - Pomáhá dětem, kterým zemřel jeden z rodičů na následky pracovního úrazu, většinou v hornictví.
  • Mining for coal - Thanks to its qualities and use in diverse industrial sectors, hard coal remains a strategic resource for the future. Experts estimate that worldwide hard coal reserves amount to approximately 479,000 million tonnes. Coal mining is expected to continue for another 200 to 300 years with efficient, economic and profitable processes sustained by the dynamic modernisation of mining technologies.
  • Coal and coke on world markets - There have been a number of significant developments unfolding within the international coal markets over the past few months which have put the commodity under the spotlight.
  • OKD Foundation to distribute CZK 60 million this year - The OKD Foundation, the secondlargest corporate foundation in the Czech Republic...
  • miners-donate-czk-350000-to-st-barbora-the-highest-sum-ever - OKD employees donated CZK 352,000 to the Saint Barbora Civic Association in 2010, almost a hundred thousand Czech crowns more than they gave in the previous year.