UK Coal bullish after improved mine production
UK Coal is optimistic about the near future after better-than-expected performances at two of Britain's biggest remaining collieries.
The Doncaster-based group said deep mines output was up more than 40% on a year ago at 1.7 million tonnes in the third quarter, helped by contributions from its Daw Mill site near Coventry and Thoresby in Nottinghamshire.
The company's third site at Kellingley in Yorkshire saw output remain flat, although it is "working its way" towards improved conditions.
UK Coal remains on track for 6 million tonnes of deep mine production this year, although it made a small downward revision to its estimate for surface mine output this year following a delay in opening a site near Telford.
The company's shares gained 1.25p to 34p.
