Whitehaven Coal sees higher prices on disruptions
The company's Blackwater and Daunia mines in Queensland, which it recently purchased from BHP, produced 4.8 million tonnes.
“The very survival of Britain’s coal mining industry depends on the success of a massive restructuring of UK Coal, which is to be announced in the next fortnight,” reports ThisisMoney:
UK Coal, when it was operating as RJB Mining, acquired the bulk of British Coal when it was privatised in 1994. More than £1billion has been poured into the company since, but its survival has always been problematic as coal has become more difficult to mine and competing fuels such as oil and gas have grown more competitive.
The fall in jobs and production has been dramatic. In the Twenties, the industry employed 1.2 million workers, with annual production of well over 300million tons. This compares with 7,000 jobs now and production of 7.5million tons.
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