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The meaning of «okd»

OKD (Czech: Ostravsko-karvinské doly; Ostrava-Karviná Mines) is a major mining company in the Czech Republic, the only producer of hard coal in the country with an annual production of around 8-9 million tonnes from 4 mines with 23 shafts extracting coal from depths ranging from 600 to 1,300 metres below the surface.[1]

Its coal is mined in the Karviná basin in the southern part of the Upper-Silesian coal basin (operations in the Ostrava basin were stopped in early 1990s). The Company produces quality coking and thermal coal for the steel and energy markets in Central Europe.

OKD controls a subsidiary, OKD, HBZS, a.s. (mining rescue service), which pursues activities related to coal mining.[2]

OKD is the largest employer in the Moravian-Silesian Region. In 2011 on average 11,000 people worked for the Company. OKD´s subsidiary OKD, HBZS a.s. provided jobs for almost 200 people.

OKD was acquired by the Czech republic in April 2018 through the state company Prisko.[3]

The foundations for the later OKD were established shortly after the Second World War when six existing mining companies were nationalized to form a state-owned company called Czech: Ostravsko-karvinské kamenouhelné doly.

The group actually encompassed a total of 32 mines, 9 coking plants, 10 mine power plants, the Třinec and Vítkovice steelworks, and several other industrial companies, and had a peak production of 24,7 million tons of coal recorded in 1980. State control of the company ended on January 1, 1991 when the company was wound up and a new joint-stock company, Ostravsko-karvinské doly (OKD), was established.

Thereafter, the newly created OKD, a.s. launched a restructuring process – both mining and surface operations were combined into larger business entities and units and OKD subsidiaries were established.

Fundamentals steps in the company, streamlining process included a swift closure of the Ostrava mines, the subsequent headcount reduction and a gradual privatization of the company. In the period from 1990 to 2001, mining activities were abandoned in the Ostrava and Petřvald part of the district on an area of 180 km2.

In 1998, the government sold its majority share in the company to Karbon Invest, a.s.. In autumn 2004, Karbon Invest, a.s. purchased another stake held by the state to become the primary shareholder. It was in the same year that the majority share of Karbon Invest, a.s. was acquired by RPG Industrie Ltd., an entity owned by a group of international institutional and private investors.

In December 2005, the OKD Board of Directors approved a proposal to split the company. Core (mining) activities were transferred to the successor joint-stock company OKD, a.s. Other activities, not related directly to the primary mining activities, were taken on by another set of companies.

An RPG Group restructuring process also continued. Hald coal mining and coke production in the Czech Republic and Poland were brought together under the umbrella of New World Resources, which became one of the leading coal producers in Central Europe. NWR pens 100% of OKD stock.

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