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UK coal sells land to pay debts

By Daily Mail Reporter
Updated: 03:55 EDT, 2 December 2010

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UK Coal yesterday agreed to sell 1,355 acres of farm land and buildings for £7m.

The Doncaster-based company, the largest coal miner in Britain, secured the deal with privately owned HW Martin Farms.

It was part of a plan to offload 8,000 acres of land to help pay off debts.

UK coal expects to receive more than £24m from land sales before the end of the year. This deal takes the current total up to £11m.

UK Coal (down 0.5p to 37.75p) will get more money if the land is developed, and also retained the right to mine any coal in the ground.

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