Wednesday, March 10, 2010

Hargreaves Confirms UK Coal Merger Talks

British coal miner Hargreaves Services has stated that it has been in tals about a merger with UK Coal confirming press speculation it was the suitor.

"Discussions with UK Coal are at a very early stage and there is no certainty that any transaction will result," Hargreaves added.

Hargeaves is the largest independent importer of coal into the UK and purchased the Maltby deep coal mine in south Yorkshire from UK Coal in 2007.

Problems with contract prices and production difficulties at its five deep mines have led to UK Coal to seek a merger.

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