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Solid Energy proposes to cease production at uneconomic Huntly East Mine
Solid Energy is proposing to permanently cease production at its Huntly East Mine in Waikato because the mine has no prospect of returning to profitability and is unsalable. The proposal was outlined to staff members of the underground coal mine this morning. They have 10 days to provide feedback on the proposal. The company management… Read more »
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Solid Energy Creditors Vote For DOCA At Watershed Meeting
Solid Energy Creditors Vote For DOCA At Watershed Meeting – PDF 19kb.
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Solid Energy Administrators Support Board’s Proposal To Adopt A Deed Of Company Arrangement
The Administrators of Solid Energy New Zealand Limited and its subsidiaries have issued their report to the Solid Energy Group’s 1500 creditors today. The report, which provides a high-level analysis of the company’s position and considers the final version of the Solid Energy Board’s proposal, supports the Solid Energy Group entering into a Deed of… Read more »
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Solid Energy voluntary administration process on track
A first meeting of creditors of Solid Energy New Zealand Limited (SENZ) (Administrators Appointed) and its associated companies was held today in Christchurch – the first milestone in the five-week voluntary administration (VA) process. At the meeting, creditors were asked to vote on two procedural matters in accordance with the statutory framework outlined in the… Read more »
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Solid Energy Disappointed by Genesis Decision
Solid Energy New Zealand Limited (Administrators Appointed) (SENZ) has been advised by Genesis Energy Limited that it is terminating its coal supply agreement. Voluntary Administrator, Brendon Gibson says that Solid Energy had been in discussions with Genesis for some time and was aware that it was considering its position. “The Board had been working tirelessly… Read more »
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Solid Energy Board places company into voluntary administration
Solid Energy Board places company into voluntary administration. Media Release attached.
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West Coast mine site changes progressed
After considering feedback from staff members at the Stockton and Spring Creek mine sites, Solid Energy has today told employees it will go ahead with the proposals outlined earlier in the month to change the sites’ work and staffing levels. Chief Executive Dan Clifford says feedback from staff members resulted in some alterations to the… Read more »
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Solid Energy presents change proposals for West Coast mine operations
Solid Energy has today told its staff that it plans to reduce production at Stockton Opencast Mine in Buller from 1.4 million tonnes a year to approximately 1 Mt from July and, as a result, it is proposing to reduce the number of staff jobs at the mine from 397 to 246. Because the mine… Read more »
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Solid Energy half-year accounts deferred
Solid Energy will defer presenting its half-year accounts until the Board of Directors is confident the accounts reflect a true and fair picture of the company’s position, says acting Chair Andy Coupe. The Board has held its monthly meeting today. Mr Coupe says the company view is that coal prices will remain lower for longer… Read more »