China’s top coal firms lean into power as mining profits slip
Mining costs are rising because of aging deposits that demand deeper bores and increased maintenance to avoid accidents.
The mine would be located in the outskirts of Edinburgh. (Image courtesy of Moyan Brenn)
Scottish authorities approved Tuesday the development of a vast open pit coal mine in Edinburgh, which would see 10 million tonnes of coal extracted over 10 years, after a report said the project was in the national interest.
Scotland TV News reports the application was submitted by Hargreaves, the same company that took control of most of Scottish Coal assets following its collapse earlier this year.
The news comes barely a day after the United Nation’s climate chief, Christiana Figueres, called the global coal industry to leave most of the world’s outstanding coal reserves in the ground.
Environmentalists reacted negatively to the authorities’ decision as they argue the mine will have a huge impact on the local community and claim restoration work may never be completed.
The nation’s coal industry provides 4,500 direct and indirect jobs and is worth $760 million per year.
Scotland has one of the most advanced clean energy programs, with the amount of renewable energy generated in the country reaching a historical record of more than 14,600 gigawatt hours in 2012.
The nation’s goal is to generate 50% of its energy from renewable sources by 2015 and 100% by 2020.
4 Comments
David
Just so people don’t think the mine will disturb that beautiful scene, the photograph is of the Old Man of Storr on the Isle of Skye, about 150 miles outside of Edinburgh, nowhere near the proposed mine.
Ashok
Thanks for valuable information………………….
Brian H
Even if Scots are fools enough to have the same “goal” by those dates, reality and the Invisible Hand will squeak their pips so hard they’ll be just trying to survive.
Thomas Pratelliface
‘Vast’ open pit coal mine and 1 million tonnes a year doesn’t usually go hand in hand…