UK Coal Plans to Sell Scottish Mine

21 July 2010 (Last Updated July 21st, 2010 18:30)

UK Coal is in advanced negotiations to sell its Blair House surface mine site in Fife, Scotland. Scottish Resources Group has expressed an interest in buying the mining assets, which UK Coal is selling to cut its debt. The company said the sale is expected to take place this month

UK Coal is in advanced negotiations to sell its Blair House surface mine site in Fife, Scotland.

Scottish Resources Group has expressed an interest in buying the mining assets, which UK Coal is selling to cut its debt.

The company said the sale is expected to take place this month, according to heraldscotland.com.

The mining group posted a £94m ($143m) half-year loss despite benefiting from a rise in global coal prices.