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    Federal Government declares June 6 and 9 public holidays

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    Prosecutors demand six-year prison sentence for Simon Ekpa

    Prosecutors demand six-year prison sentence for Simon Ekpa

    SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

    SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

    Legal Expert says only Rivers State can collect VAT as at today following Appeal Court’s order to “maintain status quo”

    Wike describes Seyi Makinde as chief architect of PDP problems

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Breaking: President Tinubu dissolves Boards of Parastatals, Agencies, Institutions

    President Bola Tinubu Approves New Heads of Federal Agencies & Commissions

    All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

    UH Real Estate Investment Trust to distribute N5.05 per unit to unit holders

    Canceling Keystone XL pipeline cost thousands of jobs, billions of dollars – Biden Administration

    Breaking: President Joe Biden diagnosed with “aggressive” cancer

    Mexican Navy Ship crashes into New York Bridge

    Mexican Navy Ship crashes into New York Bridge

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    • Africa
    • World
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    • All
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    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    Access Bank completes the acquisition of National Bank of Kenya

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    CUTIX PLC reports N1.1 billion profit for the FY ended April 2025

    Honeywell Flour Mills Plc reports N14.6 billion profit for FY ended March 2025

    Honeywell Flour Mills Plc reports N14.6 billion profit for FY ended March 2025

    List of Stockbrokers in Nigeria

    Weekly Market Report: NGX market capitalization settles at N70.46 trillion

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    Dangote Group announces major investment in rice production

    Dangote Group announces major investment in rice production

    Vacancy at Port Harcourt Refinery

    NNPC Ltd Announces Maintenance Shutdown of Port Harcourt Refinery

    Security features of the new naira notes revealed by the CBN

    The Frontier Fund unit holders to get N17 per unit distribution

    Banks begin to charge taxes on bonds, T-bills as exemption expires

    Skyway Aviation Handling Company Plc announces N0.6 final dividend for 2024 FY

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    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

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    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

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    Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn

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    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

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    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

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The United Kingdom to approve first new coal mine in 30 years

Sunday, 24 April 2022, 9:29 am
in Business, Commodities, Economy, Industry, Markets, News, Policies, World
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The United Kingdom to approve first new coal mine in 30 years
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The United Kingdom’s first deep coal mine in 30 years is on the verge of being greenlighted to go into operation. The coal mine, which won planning approval from Cumbria council in 2020 has been stalled since then due to environmental concerns.

The Telegraph reports that Michael Gove, the UK’s housing and regional development minister, is on the cusp of approving the coal mine as the cabinet rallies behind proposals to wean the country of Russian imports.

The Boris Johnson led UK government is weighing the  feasibility of opening the new coal mine to reduce dependence on Russian energy, according to a report by the Daily Telegraph on Saturday, citing sources in the Conservative Party.

  • Also read;
  • We have not documented patterns of Genocide in Ukraine – UN
  • US Treasury Secretary warns about a complete European ban on Russian gas

Reports say that Michael Gove is inclined to approve the construction of a new coal mine in the city of Whitehaven, Cumbria in the northwest of England. The project was originally presented several years back and greenlighted in October 2020, but six months later, the UK Cabinet of Ministers stalled certification and launched a new review of the project amid protests by environmentalists.

Against the backdrop of the situation in Ukraine and the sweeping restrictions placed on Moscow, which include scrapping Russian coal imports by the end of the year, the UK authorities could end up approving the project despite previous objections, The Telegraph writes. Gove is expected to reach a decision on the new mine by July 7, but sources say this could happen as early as mid-May. According to the Cabinet, the mine will provide coal for key steel mills.

If approved, the Whitehaven project will be the first new coal mine in Britain in three decades.

The project will focus on extracting metallurgical coal (met coal), which is used in the production of steel. Until recently, 40% of the UK’s met coal needs were covered by Russia.

However, contracts were scrapped amid the sanctions that followed the launch of Russia’s military operation in neighboring Ukraine.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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