Fri, 11 Oct 2013 | ADMINISTRATION
The future of Wales’ largest mine is uncertain after news of its owner Unity Mine filing for administration was confirmed.
Uncertainty had been brewing for some months now, with management saying Unity only had work for 66 of the 220-strong workforce. Staff had taken to sharing work shifts of their own volition, effectively reducing their pay by three-quarters. It was hoped the move would help to secure the pit’s future.
The company has now been forced to file for administration, Richard Nugent, a director of Unity Mine, said. Staff will be retained until further notice.
He said: “Unfortunately the Unity Group of Companies have been forced into the process of filing for administration whilst discussions continue about the future direction of the mine.”
“Fundraising negotiations are continuing with various parties,” he added.
The situation is complicated by some overhanging planning and licensing issues, with a warning from Neath MP Peter Hain that this may act as a deterrent for buyers if not resolved.
Unity Mine opened in 2007, with reserves of up to 90 million tonnes of coal. It is a drift mine, where miners are able to walk down into the pit, and do not have to be lowered via a shaft.
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Related information:
UK map showing businesses in administration
Mining companies in administration
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