The aid aims to ease the closure process and provide financial support to those working at the Paskov mine. The Czech state will contribute — under the conditions set out in the agreement reached with OKD in April 2014 — an amount of CZK 600 million ($24.6 million) to cover the social costs of the closure, provided that OKD would keep the mine open until the end of 2017.
An NWRs strategic operational review in 2013 found that the Paskov mine could not remain competitive in the medium term due to high production costs. In January 2014, the company entered into discussions with the Czech government about the closure of the mine.
