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Final milestone achieved in Solid Energy asset sales
The finalisation of the sale of the Stockton export coal operation and the two Waikato mines, Rotowaro and Maramarua to BT Mining completes Solid Energy’s asset sale process and effectively clears the path to the wind up of the company. Solid Energy Chair Andy Coupe said that with this last milestone now achieved the company… Read more »
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Sale of Reefton Assets
Solid Energy has today completed the sale of its remaining Reefton assets to Moore Mining Ltd. The sale comprises the Reddale and Burkes Creek mining operations near Reefton, with the associated coal washery and plant and equipment. The sale brings to an end Solid Energy operations in Reefton, which began in 1989 when the company… Read more »
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Regulatory approval of asset sale clears the way for Solid Energy liquidation
Solid Energy is pleased that BT Mining Limited has received approval from the Overseas Investment Office for the purchase of the Stockton export coal operation and the two Waikato mines, Rotowaro and Maramarua, and looks forward to settling the transaction at the end of August. Solid Energy Chief Executive Tony King said that this milestone… Read more »
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Statement from Solid Energy re Pike River Mine Video Footage 1 May 2017
Solid Energy confirms that the video footage of Mines Rescue workers setting up a robot in the Pike River drift and the robot travelling 1570 metres up the drift was taken into account by the company’s experts as part of the risk assessment for the mine re-entry. Solid Energy Chief Executive Tony King said the… Read more »
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Sale of Solid Energy’s Southland mines to Greenbriar finalised
Settlement has today been reached in the sale of Solid Energy’s Ohai and New Vale mines to Greenbriar. The transaction sees all of the mines’ current employees and operations transferring to the new owner. Chief Executive Tony King said that in the circumstances today’s settlement is an extremely pleasing outcome. “The mines are transferring into… Read more »
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Transfer of Solid Energy’s West Coast assets underway in April
Solid Energy has announced that the transfer of permits and other conditions for the West Coast assets purchased by Birchfield Coal Mines Limited have been approved, paving the way for settlement to take place this month. The assets sold to Birchfield, a local West Coast mining business, are: Strongman Mine, Island Block Mine, the Reefton… Read more »
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Solid Energy sales process achieves strong outcome
Sale and purchase agreements have been signed for the majority of Solid Energy’s key mining assets following a successful sales process that is projected to deliver outcomes in excess of forecast expectations. The sales process encompassed the company’s mining assets across the country, which were offered for sale as a whole or in parts. The… Read more »
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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 »
Continuous Disclosure
New Zealand state owned enterprises (SOEs) must disclose conditions of material transactions entered into and information that has an impact on their commercial value, as well as providing detailed financial results at the end of each half and full financial year. Solid Energy’s current materiality threshold for disclosure is $25 million.