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Tories tell northern England we love you

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    Tories tell northern England we love you

    Really we do. But we're going to close Kellingley and Thoresby mines

    Kellingley and Thoresby deep mines to hit 1,300 jobs

    10 April 2014 Last updated at 09:35 GMT
    Kellingley Colliery Kellingley is one of three remaining deep mines in the UK
    Two deep pits are to close next year with the loss of 1,300 jobs after the government revealed it is loaning UK Coal £10m for "managed closure".

    UK Coal plans to close the pits at Kellingley, North Yorkshire, and Thoresby, Nottinghamshire.

    Business Minister Michael Fallon said the taxpayer would face "significant losses and liabilities" in the event of UK Coal's immediate insolvency.

    Unions have not yet commented on the announcement.

    In a written statement to Parliament, Mr Fallon said: "There is no value for money case for a level of investment that would keep the deep mines open beyond this managed wind-down period to Autumn 2015."

    'Unique situation'
    Immediate insolvency, he said, would mean significant losses and liabilities relating to "redundancy and unpaid tax liabilities".

    "Considering this, the taxpayer is better served by supporting a managed closure of the mines," said Mr Fallon.

    The proposal, which ministers have been considering since 21 March, would see the two deep pits face a phased shutdown and UK Coal's six surface mines being sold off.

    Mr Fallon said the government's agreement to participate was subject to final terms "that provide adequate protection to taxpayers" as well as assurance of backing from all parties, including the trade unions.

    He said a "rapid response service" would be available to help employees try to find new work and retrain.

    Mr Fallon said the directors of UK Coal had approached the government at the end of January to report that a falling coal price, exchange rates and other factors meant that "the viability of the business was potentially in doubt".

    It is understood that private sector investment will come from rival mining group Hargreaves Services and Harworth Estates, landlord of the two mines.

    Mr Fallon said in a separate statement: "We are doing everything we can to help in this unique situation."

    Do you work at the coal mining pits at Kellingley, North Yorkshire or Thoresby, Nottinghamshire? If you would be willing to be interviewed by the BBC please email [email protected] with the subject title Coal Mine.
    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

    #2
    Nobody wants to buy the coal when they can get it cheaper elsewhere. The market for coal is disappearing. Idiot.
    Beer
    is proof that God loves us and wants us to be happy.
    Benjamin Franklin

    Comment


      #3
      the business is going Bankrupt, this is a softer landing. If the miners can run it better themselves then get together and arrange a management buyout.
      Always forgive your enemies; nothing annoys them so much.

      Comment


        #4
        Originally posted by Coalman View Post
        Nobody wants to buy the coal when they can get it cheaper elsewhere. The market for coal is disappearing. Idiot.
        You can make diesel from coal. Idiot.
        "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

        Comment


          #5
          Originally posted by scooterscot View Post
          You can make diesel from coal. Idiot.
          For once pooperscooper has a point

          Coal Is The New Black Gold Under The North Sea | The Global Warming Policy Foundation (GWPF)
          Let us not forget EU open doors immigration benefits IT contractors more than anyone

          Comment


            #6
            Originally posted by scooterscot View Post
            You can buy diesel cheaper than you can make it from coal. Idiot.
            FTFY

            They need to either find a cheaper way to extract and convert or mothball the mines until the price goes up.

            We can't pay to keep uneconomic pits open.
            Always forgive your enemies; nothing annoys them so much.

            Comment


              #7
              Originally posted by vetran View Post
              We can't pay to keep uneconomic pits open.
              Why not. We can keep uneconomic banks open.

              Did you know banks were bailed out in 8 months to the tune equivalent to 5% the UK has donated in it's entire history towards scientific & engineering endeavour.

              Think about that for a moment.
              "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

              Comment


                #8
                Originally posted by scooterscot View Post
                Why not. We can keep uneconomic banks open.

                Did you know banks were bailed out in 8 months to the tune equivalent to 5% the UK has donated in it's entire history towards scientific & engineering endeavour.

                Think about that for a moment.
                So we should form a league table of businesses that are entitled to be supported?
                Let us not forget EU open doors immigration benefits IT contractors more than anyone

                Comment


                  #9
                  Originally posted by DodgyAgent View Post
                  So we should form a league table of businesses that are entitled to be supported?
                  Perhaps based on result rather than entitlement.

                  Rolls Royce, they are leaders in aero engine technology. Let's make the funds available for a engine that produces less NOC's than a after dinner cigar.
                  "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

                  Comment


                    #10
                    Originally posted by scooterscot View Post
                    Why not. We can keep uneconomic banks open.

                    Did you know banks were bailed out in 8 months to the tune equivalent to 5% the UK has donated in it's entire history towards scientific & engineering endeavour.

                    Think about that for a moment.
                    I was quite happy for a few of the Banks to fail and their Directors to face insolvency charges. Note Barclays managed to recover without a bailout. It would have made the need for regulation less pressing if the Directors had felt the consequences of their actions.

                    We could have also cancelled debts based on fraudulent reselling of risk.
                    Always forgive your enemies; nothing annoys them so much.

                    Comment

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