Unity Mine administrators get “number of proposals” from potential investors

Evening Post

Peter Hain MP told the Post that be understood three credible bids were being investigated by Mr Cork and Mr Beckingham.

“My preoccupation throughout this sad saga has been to get the mine operating again and to get miners working again, towards the objective of making the original plan, which was to recruit hundreds of new and extra miners as the mine was developed,” he said.

“I was informed that up to 1000 miners may be entirely feasible given that the anthracite is very high quality, the best in the world, and there is massive amount of reserves under the mountain.

“I understand that there are three credible bids to invest in the mine, and obviously the necessary due diligence is being done to ensure it’s the best value.

“I don’t know the identities of the bidders and that’s all commercially confidential, but although I don’t want to raise hopes, it’s encouraging that there are credible bids and I hope that this can be pursued and resolved as soon as possible so we can get the mine operating again.”

Read the full article at http://www.southwales-eveningpost.co.uk/Unity/story-20565763-detail/story.html