UK Coal drives production on new seams
The company said half-year volumes at Kellingley in Yorkshire were twice the level seen a year earlier, with output at Thoresby in Nottinghamshire up 50 per cent following recent investment.
While Doncaster-based UK Coal is on track to produce 7.6 million of coal this year, the cost of moving to more viable seams left its mark on half-year results.
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Hide AdFirst-quarter production was sharply lower due to transition work and meant interim losses widened to 93.2 million from 81.5m a year earlier. Net debt leapt to 170.1m from 114.3m.
Shares jumped 5.3 per cent to 40p as investors welcomed the production update.