New World Resources employee dies at CSM Mine

A 23-year-old worker has died at New World Resources' CSM Mine in the Czech Republic, the Central European hard coal and coke producer announced on Friday morning.

A 23-year-old worker has died at New World Resources' CSM Mine in the Czech Republic, the Central European hard coal and coke producer announced on Friday morning.

The employee, who worked for New World's Czech subsidiary OKD, was fatally injured at the preparatory plant on Thursday.

"NWR expresses its deepest condolences to the family, relatives and friends of the deceased employee," the company said.

Advertisement - Article continues below

New World said that an investigative committee is now looking into the incident. This committee is made of members of the District Mining Authority in Ostrava, CSM Mine management, OKD management, the OKD Trade Unions representatives and the police.

The company said that the incident had no impact on production.

New World shares are down 38% in the year to date, after seeing a big drop in revenues and profits over the first nine months of the year as it was hit by floundering demand in steel markets.

Revenues dropped 18% to €1.01bn with pre-tax profits coming in at €67.5m, down 59% on the previous year's figure.



Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

UK Economy

What bounce back loans can tell us about how we’ll pay for all this

The government will guarantee emergency "bounce back loans" for small businesses hit by Covid-19. Inevitably, many businesses will default. And there'…
1 Jun 2020

This looks like the biggest opportunity in today’s markets

With low interest rates and constant money-printing, most assets have become expensive. But one major asset class hasn’t. John Stepek explains why com…
2 Jun 2020
Global Economy

The MoneyWeek Podcast: James Ferguson on the virus, the lockdown, and what comes next

Merryn talks to MoneyWeek regular James Ferguson of Macrostrategy Partnership about what's happened so far with the virus; whether the lockdown was th…
28 May 2020