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Annual report on investment in coal and steel industries

An increase in industrial activity has fuelled Europe's steel market while its coal industry continues to decline, says the 1998 annual report on investment in coal and steel industries adopted by the Commission.

The report reflects the investment strategies of European Coal ...
An increase in industrial activity has fuelled Europe's steel market while its coal industry continues to decline, says the 1998 annual report on investment in coal and steel industries adopted by the Commission.

The report reflects the investment strategies of European Coal and Steel Community (ECSC) companies for the period 1997-2001. It also reflects the trends in Member States' coal and steel production potential.

Capital expenditure in the coal industry has continually declined since 1990, falling 18% in the period 1997-98. This was explained by the greater availability of coal on the international market at competitive prices (in contrast to the high cost of Community production) which has led to a tightening of policy on Community aid and subsidies. France has pledged to discontinue all mining activity by 2005, and in Germany and Spain there has been a combination of cost-cutting measures and closures of the less efficient mines, despite substantial coal reserves.

However capital expenditure in the steel industry increased by 12.7% from the previous year. Austria, Germany, Italy, The Netherlands and Sweden all recorded increases in excess of ECU 100 million.
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