UK Coal, the largest coal producer in UK, announced today that it has reported an increased annual loss for the year 2009 comparing to the previous corresponding period. The miner said that the increased loss was mainly attributable to the low coal prices and reduced production at its underground mines.

UK Coal also revealed its plans to sell a part of its agricultural estate in order to reduce its high debt levels.

UK Coal, which runs four deep mines in Britain, released its full year results for FY 2009. The miner said that the annual pretax loss was reported of £129.1 million comparing to the loss of £15.6 million reported in FY 2008.

Total revenue for the period was reported of £316 million, decreasing by 20% while it was reported of £392.5 million in the previous corresponding year. UK Coal described the year 2009 as an extremely challenging year.

The company also said in its results that the total production for the year 2009 was reported of 7 million tons, decreasing by 11% while it was reported of 7.9 million tons in FY 2008.

However, UK Coal remained optimistic about the production in the year 2010. The miner said that it expects the total production of 7.6 million tons for the year 2010.