Critics of plans for a coking coal mine off the coast of Whitehaven hope that potential removal of it funding will be its last gasp.
West Cumbria Mining Limited has filed documents with Companies House that suggest uncertainty about its financial backing in light of the Government inquiry.
The freely available document is the company’s annual report.
It said: “In response to the Secretary of State’s announcement that the planning application submitted by the company’s subsidiary West Cumbria Mining will be the subject of a public inquiry, the group has implemented a cost saving programme.
“All members have been served notice, office accommodation vacated and all expenditure, other than that which relates to the public inquiry, has been halted.”
Plans were called in over environmental concerns. The company’s principal shareholder has written to the group’s board of directors expressing an intention to provide funding.
But “due to the uncertainty of both the length and outcome of the public inquiry, the principal shareholder may decide not to continue with its financial support.”
“If this were to happen there can be no assurance that the group could continue to meet its liabilities as they fall due, and the uncertainty over the length and outcome of the public inquiry represents a material uncertainty which casts significant doubt about the group’s ability to continue as a going concern.”
Marianne Birkby, of Radiation Free Lakeland, said: “It should have never gone ahead in the first place. For the climate aspect it’s a really bad idea.”
Trudy Harrison, Copeland MP, will speak in favour of the mine at the Planning Inspectorate inquiry on September 7.
She said: “At the heart of the argument is a UK and wider European steel industry, currently forced to procure all its coking coal needed for blast furnaces from countries all over the world.
“We are currently importing 2.117 million tonnes, with significant emissions from the thousands of miles of fossil-fuelled transportation.”
“During the year of COP26, it’s right to shine a light on a fairly polluting industry, responsible for 6.7 per cent of global C02 and to strive for the necessary research and development towards cleaner, greener alternatives.
“A specific, measurable, achievable, resourced and time bound roadmap to net zero compliant steel would be both smart and illuminating.
“But in parallel, when the private sector is keen to invest £165m in West Cumbria, potentially creating 500 direct jobs and 2,000 indirect jobs, then contributing £1.8bn to GDP in the first 10 years to develop a source of essential and particularly high-quality metallurgical coke – never to be used in power stations anywhere, ever – Copeland is keen to welcome Woodhouse Colliery.”
West Cumbria Mining has been approached for comment.
