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SRG/Scottish Coal earmark IPO cash to buy UK Coal’s Blair Farm site

0 Comments July 30th, 2010

Scottish Coal and UK Coal are finalising plans for the sale of Blair Farm OCCS in Fife, with Scottish Coal using its expected £25 million cash generated from its flotation on the stock market to buy the mine off rivals/partners in crime UK Coal. UK Coal are selling the site near Oakley to lower their huge debt and boost profits while Scottish Coal, on the other hand, will increase their number of active mines to 10 in Scotland.

There has been no community consultation over this deal.

Scotsman article

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