A deal to begin winding down production at Thoresby Pit has finally been agreed by the Government, it has been confirmed.
As first reported by Chad yesterday, it is understood that meetings between pit owners UK Coal, the unions and Government officials has led to £10 million being offered to put the wheels in motion.
The money is understood to be simply a loan, and is to be paid back with interest.
But local politicians say investor is quickly needed to step in and save the pit, with the Government’s cash simply signalling the countdown to closure.
Leonie Mather, Labour’s, parliamentary candidate for Sherwood, said: “Unfortunately, this is about the closure, not about the future, and it means that a number of men could be redundant in May.”
Sherwood MP Mark Spencer added: “I’m disappointed in UK Coal who say they need the money for a ‘dignified run-down’ of the colliery.
“I would rather it be undignified and open than have a dignified run-down.”
UK Coal say the money is needed to keep operations running until the Autumn of next year, when the pit will close with the loss of 600 jobs.
But without the instant cash injection, there were fears the pit could close within weeks.