Government contributes with 500 million to mining company Store Norwegian Svalbard through property purchases and loans. Thus the company saved at this time.
– I am glad that the government helps to resolve a difficult situation for the company. It is prudent for Norway, Svalbard community and the company. The mining company contributes to a thriving community in Longyearbyen, says trade minister Monica Mæland (H).
rescue package was presented at a hastily convened press conference on Thursday evening. It shall ensure coal mining on Svalbard out next year. Further operation beyond this is according to the company relies on coal price rises, the company is able to reduce their costs and that the company manages to sell coal to new applications.
Chairman Annette Malm Justad is happy solution.
– solution creates a basis for continuing efforts to ensure a commercial basis for coal mining. Clearance gives us a respite, but much hard work remains, she says.
rescue package for Large Norwegian must be approved by Parliament, and industry minister warns that it will be submitted a bill on the matter. (© NTB)
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