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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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.
-
8 of the best properties for sale for around £2 millionThe best properties for sale for around £2 million – from a former coach house in Richmond, London, to a substantial Georgian property with a gazebo by a lake in Banbury, Oxfordshire
-
New Chase bonus deal takes savings rate to 4.75% – is it worth it?Chase’s latest savings deal propels it into first place in the best-buy tables, but there are some pitfalls to look out for
