UPDATED: 700 jobs at risk at Kellingley Colliery after investor pulls out of closure deal

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More than 700 jobs are at risk at Kellingley Colliery after one of the main contributors to a managed closure of the pit pulled out.

Pit operators UK Coal were working to finalise a £20m closure deal which would see the pit close within 18 months. Hargreaves Services Plc, which was expected to contribute £5m towards the deal, has announced it is no longer willing to help.

The deal, which also includes a £10m state loan and a further £5m from other private investors, would see the pit close by the end of 2015.

 

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