Articles Tagged "Coal Market News"

Turnround Investor Moulton Expresses Interest in UK Coal Assets

The Financial Times reported that veteran turnaround investor Jon Moulton is considering a move to buy parts of UK Coal in the wake of news that two of Britain’s last coal mines may soon close. UK Coal is currently seeking a government bailout. According to the publication: UK Coal needs £20m, including £10m from the government, for [...]

Only One Coal Pit to Remain in Britain

The telegraph reported that Kellingley Colliery in Yorkshire and Thoresby Colliery in Nottinghamshire will close within the next year and a half as the mines are no longer commercially viable, leaving Hatfield Colliery in Ed Miliband’s Doncaster North constituency as the last remaining coal pit in Britain. Cheap imports of US shale gas have combined with a weak dollar to help make UK coal mines unprofitable.

Norway Opens Coal Mine on Svalbard Archipelago

Bloomberg reported that although lawmakers in the Norwegian capital of Oslo are considering banning their country's sovereign wealth fund from investing in coal companies, Norway has nevertheless opened a new coal mine on the Svalbard archipelago.