Coal industry is target for union buy-out
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.EAST MIDLANDS Electricity and the Union of Democratic Mineworkers yesterday revealed plans for an employee buy-out of the coal industry.
The consortium, backed by investors from the City of London, said it wanted eventually to buy about a dozen pits in the Midlands and Yorkshire.
Roy Lynk, the UDM president, and John Harris, EME chairman, are waiting for the Government to announce how it will privatise the industry next year.
Mr Harris said yesterday: 'We are in this for real. Provided the Government can come forward with the right kind of deal, we can achieve an employee buy-out in Nottinghamshire.'
Mr Harris added that he was looking to buy at least a dozen pits as well as opencast sites, and said: 'We do not see a financial difficulty. The City sees this as a worthwhile investment.'
The news comes on the day a delegation of local MPs, councillors and clergymen met Tim Eggar, Minister for Energy.
He was unable to give reassurances that Nottinghamshire pits would be saved. The area faces the closure of nine out of 13 pits.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments