BRUSSELS, Feb 12 (Reuters) - The European Commission has approved public funding to help with the social costs of closing an uncompetitive coal mine in the Czech Republic, the EU executive said in a statement on Thursday.
The Paskov mine is operated by the Czech mining company OKD, a subsidiary of New World Resources.
"Uncompetitive coal mines cannot be kept in the market indefinitely on state support - but the Commission and member states can find solutions to help coal miners through this difficult transition," Commissioner Margrethe Vestager, in charge of competition policy, said in the statement.
The funding will contribute to severance payments to workers who will lose their jobs because of the mine's closure as well as compensating miners exposed to health risks. (Reporting by Barbara Lewis; editing by Adrian Croft)