Tuesday, December 17, 2013

News: Maltby closure going to plan


Hargreaves Services plc, the owner of Maltby Colliery in Rotherham, has given an update on the closure of the 100 year old mine in its latest financial report.

Maltby occupies a site of 500 acres and employed over 500 staff and contractors. It is the last coking coal mine left in the UK and produced both high quality coking coal and power station coal.

The owners confirmed mothballing in December last year following no viable alternative solution being found to geological reports that indicated that the risks associated with mining a new panel, called T125, had not significantly reduced and that the panel is not viable on health & safety, geological, and financial grounds.

Hargreaves said that the "closure programme at Maltby is progressing in line with plan, with the mine shafts expected to have been filled and capped by the end of the financial year as part of Maltby's overall restoration programme."

Management services and support to Hatfield Colliery in Doncaster was provided by Hargreaves from maltby but Hargreaves terminated this contract last week when the business and assets of Hatfield Colliery Limited were acquired by Hatfield Colliery Partnership Limited, a company ultimately owned and controlled by an Employee Benefit Trust.

Hargreaves has provided the new Hatfield owners with a short term option to acquire the underground production assets previously used at Maltby. Hargreaves remains confident that full value will be obtained in due course. With plant and equipment worth £34m, Hargreaves expected to realise £14m from its sale.

Maltby continues to trade. Tiny coal particles called "fines" are harvested and processed and specialist firm, Alkane Energy acquired the coal mine methane (CMM) assets to turn into energy.

Hargreaves recently secured planning permission for one of the storage buildings on the Maltby site to be used for general industry and become a new operation for manufacturing subsidiary, AJS Contracts Ltd.

Hargreaves Services website

Images: Hargreaves Services


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