ATH seals new deal on older contract

COAL miner ATH Resources yesterday revealed that it had successfully renegotiated one of its older contracts, increasing the selling price of its fuel.

ATH, which is based in Doncaster but operates all five of its mines in Scotland, said the deal would come into effect on 2 January and would boost the firm’s earnings and cash-flow.

Matthew McDonald, a mining analyst at stockbroker Seymour Pierce, which acts as a market maker for ATH, said the update was “positive”.

ATH, which was founded in 1998 and joined the Alternative Investment Market in 2004, is one of the UK’s biggest miners.