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German coal industry secures aid

THE European Union Commission has approved a EUR3.3 billion German aid package this year to coal ...

Staff Reporter

The aid is part of an ongoing program of phasing out state support for coal mining, due to end in 2007, with around EUR2.2 billion to be channelled to supporting high-cost German coal.

Some EUR770 million will be directed to costs related to mine closures and layoffs such as pensions, with EUR370 million for future mine closures. Aid of this nature can continue through 2010.

Two private coal companies will receive small sums - EUR1 million to Dr. A. Schaefer Bergbau BmbH and EUR5.2 million to Bergwerksgesellchaft Merchweiler GmbH.

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