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NWR sees steady coking coal price in next few quarters-CFO

Reuters - UK Focus

PRAGUE, Aug 21 (Reuters) - Czech hard coal miner New World Resources (NWR) expects a steady coking coal price in the next few quarters, Chief Financial Officer Marek Jelinek said on Thursday.

NWR had said in July the average agreed price for coking coal deliveries in the third quarter was 85 euros per tonne, 1 percent higher than the previous quarter.

"There doesn't seem to be any immediate reason for optimism," Jelinek said. "I don't think we will see any spikes or collapses in the next quarter or two."

He added the company, which is undergoing a capital restructuring, would continue with cost cutting.

(Reporting by Jason Hovet; editing by Jason Neely)