Worries remain as a construction company set to carry out mining works in Swallowfield has reported a huge financial loss for the third year running.

The News reported last year that CEMEX Investment Ltd. made a loss of £738 million despite being set to take over a mining project approved by the council.

Accounts for this year show the company made another staggering loss of £664 million.

Councillor Simon Weeks, executive member for planning and enforcement at Wokingham Borough Council, said: “The financial position of any planning applicant cannot be considered when determining a planning application.

“However, the proposed use of the land is a planning matter and all public feedback is fully assessed as part of the planning application process.

“Further details are required about this application and it is currently unlikely to be determined by the Planning Committee before late spring next year.

“This means residents have the opportunity to comment on any additional information, as and when it is received by the applicant, before the application goes before the committee.”

CEMEX submitted an application to mine 3.6 million tonnes of sand and gravel at Bridge Farm in Swallowfield in February 2017.

This is despite secret discussions beginning with Wokingham Borough Council in 2004.

In the almost thirteen years in-between discussions and the application’s submission, the council approved the building of hundreds of homes near the proposed mining site.

This prompted residents to tell the News last year that they wouldn’t have bought a home in the area had they known of the potential disruption in the area.

These plans have forced concerned resident Alan Marvin to write to Dominic Raab (former Minister of State for Housing & Planning) and the Chief Executive of Wokingham Borough Council Manjeet Gill.

His letter to the latter read: “Having lived in the Wokingham area for thirty-five years I have been saddened over the last few years to see what was once voted one of the best places to live in England ruined by Wokingham Borough Council’s planning department.”

Mr Marvin told the News: “I think to award any planning application which is a 14-year minimum contract to a company that has lost 1.5 billion pounds in the last three years is a very questionable decision for Wokingham Borough Council to make.

“To not take the company’s finances into account is absolutely ridiculous.

“I can’t understand how anybody would award this contract with all this information to hand.

“I can’t see why the council is so eager to support this application – it doesn’t make any sense.”

The proposals, if eventually approved, could last up to 14 years as an aggregate processing plant, a ready mix concrete plant and conveyor equipment take over the site.

A public consultation into the plans is ongoing having started in March 2017 and more than 300 comments have been received by the council.

Swallowfield Parish Council also sent a letter to the council complaining about the proposals.

Cemex was contacted for comment.