UK Coal (UKC-LN)

QUOTE AND NEWS
BBC News  Sep 26  Comment 
UK Coal confirms it has secured the funding needed to avoid the immediate closure of two deep mines.
Financial Times  Aug 25  Comment 
Border region of England and Scotland attracts Australian investors who believe the extraction of coking coal for steelmaking can be a viable business
Reuters  Jun 12  Comment 
The British government and investor Harworth Estates are continuing talks with UK Coal and other stakeholders over a loan to allow the managed closure of the company's mines, they said on Thursday, after another potential lender pulled out.
Financial Times  Jun 11  Comment 
Aim-quoted miner was to put £5m into a £20m package of commercial loans to UK Coal to help it to manage an 18-month wind-down of its business
Reuters  Apr 10  Comment 
* Hargreaves Services to loan UK coal 5 mln stg (Updates with details on Hargreaves Services loan)
Financial Times  Apr 4  Comment 
Investor considering ‘all options’ if government turns down appeal for bailout as two of Britain’s three remaining deep pits face threat of closure
Reuters  Apr 3  Comment 
UK Coal, Britain's largest coal producer, has applied for a 10 million pound government loan to help fund the closure over the next 18 months of its two deep mines which employ around 1,300 people.     
BBC News  Apr 2  Comment 
UK Coal could close both its deep mines within two years with the loss of 1,300 jobs as it fights to stave off insolvency.
Financial Times  Apr 1  Comment 
UK Coal owns Thoresby mine in Nottinghamshire and Kellingley in Yorkshire, and has £500m of pension liabilities
WA Business News  Dec 18  Comment 
Eden Energy will continue to wait to sell its entire UK coal seam methane and shale gas portfolio for up to £11.5 million ($21 million), due to UK-based buyer Shale Energy failing to complete a £7 million capital raising for the purchase.




 
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UK COAL PLC is a United Kingdom-based company engaged in surface and underground coal mining, property regeneration and management, and power generation. The Company operates four deep mines, located in Central and Northern England. Its deep mines business consists of Daw Mill (Warwickshire), Kellingley (Yorkshire), and Thoresby and Welbeck (Nottinghamshire). It has reserves and resources of over 100 million tons at these mines. As of December 31, 2007, the Company had six active surface mines. Total surface mining reserves available for planning are estimated at approximately 97 million tons. It has 29 megawatts of electrical power generation capacity, utilizing waste gas from mines. The Company owns some 46,500 acres (18,818 hectares) of predominantly agricultural land. In May 2008, the Company announced that its joint venture company with Hargreaves Services plc, Coal4Energy Limited has acquired a majority share in Maxibrite Limited.

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