The futility of Britain’s new coal mine in Cumbria leaves one gasping. The world’s top steelmakers are trying to rid themselves of coking coal forever.
British Steel does not need or want the high-sulphur coal from the Whitehaven colliery, and Tata is unlikely to buy much for its flat-rolled plant in Port Talbot.
The Australian private equity group backing the mine – EMR Capital – plans to export 83pc of the production but there is no a durable market for this in Europe either. Green steel made without coal is already a reality. The mine will be a stranded asset long before its commercial life-cycle ends in 2049.
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https://www.telegraph.co.uk/business/2022/12/08/goves-cumbrian-coal-mine-economic-diplomatic-idiocy/