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In
February 1992, Richard Budge bought the opencast coal and Plant division from the family business with venture capital backing from Schroder Ventures for circa £103m, a transaction approved by Charterhouse Ventures and Prudential Ventures which were preference shareholders of AF Budge. A.F. Budge
83:. He bought three out of five packages of the UK coal industry (17 deep mine pits) on 30 December 1994 for around £700m. At the time there were 19 deep mines left in the UK. The last of these remaining deep mine pits,
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His company, Powerfuel, was 48% owned by Budge and 52% owned by KRU, Russia's second biggest coal company. In April 2007, he re-opened the pit at
Stainforth, at a cost of £100m. financed by £50m from
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When the Labour government came to power, Budge informed the government that the pits would have to close unless he secured long-term contracts from the electricity generators
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79:, which he had started in 1992 after buying his brother's opencast business division for £102.5m. This led to Budge being christened
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19:(19 April 1947 – 18 July 2016) was a coal mining entrepreneur and chairman of The Coal Industry Social Welfare Organisations.
55:. It was also involved in civil engineering schemes such as the construction of motorways. The company also sponsored the
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393:"Richard Budge - dubbed "King Coal" after buying British Coal from the Government - has died aged 69"
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147:. Powerfuel went into administration in December 2010 owing £80 m to a combination of VTB Bank and
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When the UK coal industry was privatised in 1994, Budge bought most of the pits for £815m, forming
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Richard Budge died of prostate cancer on 18 July 2016 in
Retford, Nottinghamshire.
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On 14 July 2001 he quit as CEO of RJB Mining, which later became known as
313:"Coalmining has breathed its last but working life can still be the pits"
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132:, in April 2004 from Hatfield Coal Company, helped by £7m of state aid.
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Discussion in UK Parliament in May 1995 over sale of pits to RJB Mining
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He entered the coal mining industry when he joined the company of
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He formed the company, Coalpower, in 2001. It bought the
216:"'King Coal' mining mogul Richard Budge dies aged 69"
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was majority owned by his elder brother Tony Budge.
51:, owned by his brother Tony (1939–2010), which ran
135:In late 2003, Coalpower went into administration.
117:Hatfield Colliery in 2009, site of the 1996 film
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159:In 1968 he married Rosalind White and lived at
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481:"CCS blow as Powerfuel enters administration"
31:in Lincolnshire. He studied Fine Arts at the
267:"Death at 70 of former top owner Tony Budge"
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625:People educated at Boston Grammar School
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293:"Richard Budge, 'King Coal' – obituary"
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605:Alumni of the University of Manchester
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418:"Coal firm goes into administration"
640:20th-century English businesspeople
610:British construction businesspeople
376:. 18 September 2001. Archived from
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341:"Miners step closer to extinction"
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635:People from Boston, Lincolnshire
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370:"Budge is back at the coalface"
237:Adeney, Martin (27 July 2016).
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177:Worshipful Company of Fuellers
87:, closed on 18 December 2015.
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615:British mining businesspeople
391:Moore, James (20 July 2016).
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197:South Yorkshire Coalfield
175:. He was a member of the
94:and Powergen (now called
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620:English chief executives
444:"Russians join 1bn deal"
239:"Richard Budge obituary"
33:University of Manchester
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580:Hatfield IGCC Project
565:December 2006 article
192:Clean coal technology
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61:Cheltenham Racecourse
29:Boston Grammar School
532:on 26 September 2008
528:, UK, archived from
169:Gringley-on-the-Hill
630:People from Wiseton
557:article August 2007
485:The Financial Times
380:on 11 January 2020.
298:The Daily Telegraph
85:Kellingley Colliery
63:from 1988 to 1991.
487:. 10 December 2010
448:The Yorkshire Post
321:. 13 December 2015
222:, UK, 18 July 2016
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17:Richard John Budge
462:"South Yorkshire"
424:. 3 December 2003
273:. 5 February 2010
126:Hatfield Colliery
57:December Gold Cup
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570:NUM 2006 article
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347:. 18 August 1997
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600:2016 deaths
595:1947 births
555:Independent
491:13 December
402:15 December
351:13 December
325:16 December
277:13 December
248:13 December
119:Brassed Off
27:He went to
589:Categories
203:References
130:Stainforth
77:RJB Mining
71:RJB Mining
49:A.F. Budge
23:Early life
468:, UK: BBC
163:in north
149:ING Group
139:Powerfuel
109:Coalpower
81:King Coal
525:Fuellers
422:BBC News
186:See also
145:VTB Bank
536:9 April
428:31 July
161:Wiseton
103:UK Coal
96:E.ON UK
47:-based
45:Retford
39:Career
508:Photo
167:near
128:, at
538:2008
493:2022
466:News
430:2010
404:2019
353:2022
327:2015
279:2022
250:2022
173:A631
98:).
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
