British Coal Corporation
A report on the investment programme of the British Coal Corporation

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Summary

Since 1984-85 EC's performance has greatly improved. Since we last reported, in 1983, EC's investment appraisal and related procedures have in general improved, although we have been puzzled by the history of the Asfordby new mine project.

BC has reached a point at which its drive to ' turn an institution into a business', with particular emphasis upon reduced costs, must be combined with a new dimension of management requiring it to adopt a flexible, light-footed response to major uncertainties. BC will in the next few years need great skill if it is to combine reducing costs still further with creating and exploiting opportunities to meet the new institutional and market realities.

We are required to consider whether in relation to any matter falling within our terms of reference (Appendix 1.1) BC is pursuing a course of conduct which operates against the public interest. We do not find that it is.

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