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MEI Online: General Minerals Engineering: Latest News: March 10th 2003

:: ECSC Funds Targeted For Research  

The European Union's Council of Ministers has appointed the European Commission as the long-term guardian of the goals and assets of the now defunct European Coal and Steel Community. It has been given control of any resources remaining after the winding up of the institution and has been ordered to manage these assets "so as to ensure a long-term return ... aimed at the highest possible yield that is compatible with security". In a formal EU decision, ministers have specified that this income should be spent on "financing research projects in the ... coal and steel industry not covered by the EU's (general) research framework programme". The Council of Ministers has also ordered that in future, 27.2% of this revenue should be earmarked for coal research, with the remainder being spent on steel studies. Unused money will be carried over into the following year's budget of this Research Fund for Coal and Steel, which will be managed by the Commission.

In a separate decision, the council approved detailed technical guidelines for the operation of this fund, which will be reviewed every five years. These lay down its objectives and define proposals that are eligible for grants, including pilot, demonstration and research projects. The technical guidelines also provide for the creation of coal and steel advisory groups to help the Commission administer the programme.



Click for more info on Flotation '19

Mining Journal, Feb.21, 2003, p.132

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