Coal price surge sets miners against activists by English seaside

28 Nov 2016   Coal, United Kingdom

In northeastern England, a battle is raging between grass roots campaigners and a company intent on digging a new open cast mine as world coal prices soar. A year after Britain closed its last deep coal mine and pledged to phase out coal-fired power generation, the economics of mining have been transformed. Coal prices have risen by well over 100 percent this year to $100 a tonne. Some mining stocks have risen even more, spurred by U.S. President-elect Donald Trump’s pledges to revive coal and pull out of the Paris Agreement on climate change. Some wonder how long the coal price surge will last, but in Northumberland, the Banks Group is pressing ahead with plans for a new mine despite opposition from local environmentalists. Northumberland […]

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