Hatfield Colliery.

[John]

From the Telegraph today.


Hatfield Colliery owner Powerfuel enters administration
The owner of Hatfield Colliery has gone into administration after failing to raise £635m needed to build Britain's first clean coal plant and £30m to upgrade the mine.
the Hatfield Main Colliery near Doncaster, which is now owned by Powerfuel.
The Hatfield Main Colliery near Doncaster, which is now owned by Powerfuel. Photo: PA
Rowena Mason
By Rowena Mason 6:32AM GMT 10 Dec 2010

Comments

Powerfuel appointed KPMG as its administrator, hoping that it can find a buyer to safeguard 380 jobs at the mine and clean coal projects – both of which are currently still operating.

The company is jointly owned by its founder Richard Budge, the British mining entrepreneur, and Mikhail Abyzov, who runs Russia's second biggest coal company, KRU.

KRU bought 51pc of Powerfuel in 2006, but ultimately the company's shareholders couldn't put any more money into the venture.

Last year, it took €180m (£164m) of European Union funding to work on carbon capture and storage technology at its Hatfield site near Doncaster.

However, its board was not able to raise the rest of the money needed to build the planned £800m station.

[Wheldale]

I think they went into administration at the beginning of the week. Richard Budge doesnt seem to have had much luck with Hatfield. I think this is the second time he's run the mine. Shame because there is alot of coal at Hatfield. I read on the Welsh forums that they were planning a 3rd shaft as well to increase output. I hope they get a buyer and money for the carbon capture plant.