HATFIELD COLLIERY £8 MILLION LIFELINE

16th January 2015

The future of Hatfield Colliery has been secured for another year thanks to a multi-million pound Government loan. Agreement has been struck with Colliery bosses for a short term loan of 8 million to pay for a new section of coal face. The development aims to open up about 1.4 million tonnes of coal for extraction which is expected to take 20 months to mine. Brian Holland Hatfield Colliery Operations Director said: "without this support we would have been announcing an immediate insolvency with about 500 direct job losses". In September Hatfield Colliery was given a 4 million loan but falling world coal prices, shifting exchange rates and geological problems forced further approaches to the Government for help.

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