MARKETS

Spain passes 2014 payment ready for closures.

SPAIN's Industry Ministry has published its 2014 subsidy scheme for domestic coal miners for a to...

Sadie Davidson
Spain passes 2014 payment ready for closures.

The scheme succeeds the recently awarded 2013 subsidies of &euro74.5 million.

The 2014 payments, published in state gazette, Boletin Oficial del Estado, are also supplemented by legislation regarding the permanent termination of unprofitable mines by 2018.

&euro68.8 million will go towards mines that are due for closure.

There will be a further &euro300 million set aside for early retirements, &euro53.7 million for restructuring projects and &euro18 million for unspecified labour costs.

Payments for the struggling mines are due to be made by the third quarte, while the subsidies should be paid in the fourth.

Coal is Spain’s only significant domestic energy resource, totalling 4500 million tonnes, of which accessible reserves amount to 1156Mt.

For many years it has been the country with least local primary energy in its energy mix.

Spain depends on imports for around 85 % of its energy needs, compared with the average in the EU of 55%.

This places a burden on the Spanish economy by increasing its trade deficit and foreign debt.

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production