uk coal plans to close biggest mine
Last Updated : GMT 23:06:21
Arab Today, arab today
Arab Today, arab today

UK Coal plans to close biggest mine

Arab Today, arab today

Arab Today, arab today UK Coal plans to close biggest mine

London - Arabstoday

UK Coal is consulting on closing the biggest coal mine in the UK under plans to restructure the business, jeopardising 800 jobs. The group is considering closing Daw Mill near Coventry by early 2014 when current coal panels will have been exhausted and has stopped work to extend production beyond then. UK Coal is a major supplier to Britain\'s coal-fired power stations from three deep mines and six surface mines. It said Daw Mill has considerable long-term resources but production is 175,000 tonnes behind budget. The company returned to profit earlier this year for the first time in four years but chairman Jonson Cox recently said Daw Mill was the greatest risk to output this year due to a change in the coal face. The pit has been dogged by productivity problems in recent years, including a four-month gap in production which cost it £75 million two years ago. UK Coal recently agreed a deal with unions which included a two- year pay freeze and a new shift system. But with production having failed to hit targets, UK Coal announced that it would carry out a review over the mine\'s future. It said it wants to ensure that financial uncertainty at Daw Mill does not impact on the rest of its business, which includes the two other deep mines at Thoresby in Nottinghamshire and Kellingley in North Yorkshire. Former miners\' union leader Arthur Scargill recently visited the Daw Mill site to urge workers at the pit to hold their ground and fight for their rights. UK Coal said an increase in production and a fall in operating costs in coming months could secure its future but added that the mine would only be sustainable under a \"lower risk operating model\". The company said it has also entered into negotiations with its main banker, Lloyds, and that it was confident it will be able secure new facilities on the back of its restructuring plans. It swung from an interim loss of £93.2 million to a profit of £22.1 million in the six months to June as revenues jumped more than 80% to £256 million and average prices rose by 20%. UK Coal had posted losses totalling £270 million over the previous three years due to persistent production problems. It bought the English assets of British Coal for £815 million in 1994 when the state-owned business was privatised.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

uk coal plans to close biggest mine uk coal plans to close biggest mine

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

uk coal plans to close biggest mine uk coal plans to close biggest mine

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Japanese regulators raid Airbnb

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Saudi, Bahrain target Iran

GMT 00:48 2017 Monday ,20 November

Saudi, Bahrain target Iran
Arab Today, arab today Europe turns on Facebook, Google

GMT 02:26 2017 Monday ,20 November

Europe turns on Facebook, Google
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Mona Abdel Ghany increased artistic activities

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday