Russia helps to revive a coal mine in Yorkshire.

#1
http://www.themoscowtimes.com/stories/2006/03/21/044.html

One of Britain's biggest coal mines could reopen as early as next year under a $1.6 billion deal with a Russian company, the firms involved in the project said Monday.

The Hatfield Colliery in northern England, which shut in 1993, could also be the site for a clean-coal power station after Russia's second-biggest coal firm, Kuzbassrazrezugol, or KRU, bought 51 percent of Powerfuel, the Hatfield site's owner. Powerfuel is run by British coal entrepeneur Richard Budge.
Just have seen it in the news on NTV (4th channel). Locals hopes that new Russian owners will bring jobs and prosperty.
 
#2
shall be interested to see how this works out as the main reason for them closing was due to British coal seems being smaller than those in the usa and china which lead to British coal being unprofitable on the open market
 
#3
smoojalooge said:
shall be interested to see how this works out as the main reason for them closing was due to British coal seems being smaller than those in the usa and china which lead to British coal being unprofitable on the open market
http://news.independent.co.uk/business/news/article352411.ece

Kuzbassrazrezugol (KRU), has taken a 51 per cent stake in Mr Budge's latest venture, Powerfuel, which owns the mine at Hatfield, near Doncaster.
...
The coal industry in Britain has been decimated, first by the Thatcher government's assault on the sector in the 1980s and then the "dash for gas" in the 1990s. Mr Budge said: "Coal is far cheaper than wind power, even if you take into account the need to clean it up.
Coal will be used on power-plant that will be built just near the coal mine. I suppose that the project would be profitable. Moreover it will boost energetic security of the UK.
 
#4
KGB_resident said:
smoojalooge said:
shall be interested to see how this works out as the main reason for them closing was due to British coal seems being smaller than those in the usa and china which lead to British coal being unprofitable on the open market
http://news.independent.co.uk/business/news/article352411.ece

Kuzbassrazrezugol (KRU), has taken a 51 per cent stake in Mr Budge's latest venture, Powerfuel, which owns the mine at Hatfield, near Doncaster.
...
The coal industry in Britain has been decimated, first by the Thatcher government's assault on the sector in the 1980s and then the "dash for gas" in the 1990s. Mr Budge said: "Coal is far cheaper than wind power, even if you take into account the need to clean it up.
Coal will be used on power-plant that will be built just near the coal mine. I suppose that the project would be profitable. Moreover it will boost energetic security of the UK.
the money will paid to Russian companies, however if the Russians would like to stay on the good side of the communities they are based , perhaps a reasonable market rate is to be paid , also contribute to community projects wouldn't go wrong.
 

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