Swedish miners rescued

Firefighters have rescued 25 miners at Kristinebergsgruvan, a mine operated by Swedish base-metal producer Boliden AB, after a fire broke out at about 1 pm local time, the Wasll Street Journal reports.

While 23 miners made it to a safety room, two could not.

WSJ quotes a spokeswoman for Boliden, who said all miners were deemed unharmed, however one was taken to hospital for observation.

The cause of the fire is not yet known. An investigation is underway.

Cutting coal’s cost

The UK is facing spiking power costs due to the shuttering of several coal power stations deemed uneconomic.

The Financial Times reports that a wave of power plant closures threatens to push Britain’s electricity system close to breaking.

Eggborough is the most recent plant closure announced.

UK businesses with interruptible contracts are at greater risk of supply curbs.

Rich nations row over coal subsidies

Rich nations are stubbornly divided ahead of talks in Paris on Thursday to seek a deal to phase out coal subsidies, Reuters reports.

France, host of the UN climate summit, has built political pressure to restrict a subsidy that helps nations export coal power generating technology.

Two days after confirmation of EU regulatory approval for General Electric's takeover of Alstom, France's big manufacturer of coal plant technology, French Environment Minister Segolene Royal said the government would scrap coal export credits.

Reuters reports the Organisation for Economic Cooperation and Development has been trying to broker a phase-out for more than a year and holds new talks on Thursday.