The company behind a scheme to develop a controversial opencast mine at the top of the Rhymney Valley has been sold.
Miller Argent Holdings Ltd, the parent company of mine developers Miller Argent (South Wales) Limited has been sold to new owners Gwent Investments ltd.
The change in ultimate ownership will not affect the planning application for the Nant Llesg opencast mine to be sited between Fochriw and Rhymney.
Last year Caerphilly County Borough Council’s Planning Committee rejected plans, but last month Miller Argent submitted an appeal to the Welsh Government’s Planning Inspectorate.
If given the go-ahead, the mine would see six million tonnes of coal extracted over at least a 14-year period on a 478 hectare site, offering up to 239 jobs.
Miller Argent Holdings was formed as a joint venture between the Miller Group and the Argent Group, but both companies have each sold their respective 50% shareholding.
Its subsidiary, Miller Argent (South Wales) already owns and operates the Ffos-y-fran opencast mine in Merthyr Tydfil.
A spokesman for Miller Argent said: The sale was completed on Thursday January 7, 2016. The new shareholder is Gwent Investments Limited, which is based in South Wales and is a privately owned family business.
“Miller Argent (South Wales) Limited has not sold nor has any intention of selling Ffos-y-fran.”
A spokesman for Gwent Investments said: “We are delighted to be involved with such a successful company.
“Miller Argent (South Wales) Limited has become one of the most successful land reclamation and surface mining companies in the United Kingdom. The company is now over half way through working the Ffos-y-fran Land Reclamation Scheme and is running approximately one year ahead of programme.
“It will be very much business as usual. Site operations will be unaffected by the change and we do not anticipate that there will be any material changes to the workforce or to the site management.”
According to the latest set of accounts filed at Companies House, Miller Argent Holdings Ltd had a turnover of £54.9 million in 2014 and recorded a pre-tax operating profit of almost £6m.
Gwent Investments Ltd was incorporated in March 2014 and has yet to file any accounts as they are not yet due.
In June 2014, Caerphilly Observer reported that Gwent Investments had bought the Maes Manor Hotel after its former owner, Manor Pursuits Ltd, went into administration.
Last year the Maes Manor Hotel was subsequently sold to Warner Hotels Limited.
The January 21 print edition of Caerphilly Observer incorrectly stated that Gwent Investments Ltd was the current owner of the Maes Manor. We would like to apologise for this error.
Concern over rights of way at mining site
Campaigners against the proposed Nant Llesg opencast mine have expressed concern over an application made by developer Miller Argent to fence off the area surrounding the mine.
The planned perimeter fence would block public rights of way on Gelligaer common.
The application for the fence is separate from the planning application for the mine. The Planning Inspectorate though have stated that both applications will be heard together this summer.
Chris Austin, Secretary of United Valleys Action Group, said: “The objections have also been difficult to construct as they have to be focussed on just being against the enclosure and stopping up, not the mining operation – they’ve disassociated two applications that are inextricably linked.”
The deadline for objections to reach the Planning Inspectorate is January 28.