History
Background to SRG since Privatisation
1994 Privatisation of British Coal - The British Coal Corporation was privatised after the passing of the Coal Industry Act. Scottish surface & deep mines were acquired by Mining (Scotland) Limited - now SRG
2000 Ownership change - In 2000 came the acquisition of majority control along with an equity injection from one of the existing shareholders. All sub-contracted mining sites were brought in house.
2002 Forced changes - A pivotal year that saw the operational deep mine flooded and its forced closure.
2005 Restructure - A comprehensive restructuring exercise achieved reduction in loss-making production through a new prime focus on key surface mining sites.
2006 Improved profitability and expansion - Reduction in impact of legacy contracts at low sales prices and greater exposure to higher market prices improved profitability.
Growth in production through expansion projects further improved financial performance.
2007 Greater exposure to global markets - Further renegotiation of legacy contracts and growth in production permits greater exposure to global market prices. The Broken Cross and Shewington sites were opened.
2008 Further growth - In 2008 there was an increase in production to take advantage of long term contracts and higher underlying international coal price increases.
The Poniel and Pennyvenie sites were opened.
2009 A new management team with international and listed company experience was put in place. Employee growth from 600 to 900.
2010 Three further Sites - Dunstonhill, Mainshill and Blair House were opened.
