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ATH Resources goes into Administration

Scotlands second largest open cast coal company bit the dust today. ATH Resources, based in Doncaster England but with all it’s mining operations in Scotland, suspended its shares this afternoon, then two hours later called in the administrators. Their financial backer, Jon Moulton’s Better Capital, called in its loans after watching the value of the company plummet in recent months. The company has a reported debt of £22 million and is thought to employ about 200 people.

What the announcement means for its opencast mines and the future of them – such as their restoration – is still unclear. More news when we have it.

(BBC News article, The Scotsman article)

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