Transfer of Solid Energy’s West Coast assets underway in April

05/04/2017

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 Distribution Centre, and the Mt Davy Mining permit.

Staff have today been advised that current mining operations at Reefton will stop from mid-April, affecting 15 permanent employees and a small number of casuals. Solid Energy expects that a number of these staff may be employed by the new owners once their workforce requirements have been worked through.

Solid Energy Chief Executive, Tony King, said it is pleasing to see the assets retained in local hands as active operations, with some prospect of re-employment for staff who have worked under a long period of uncertainty.

Settlement with Moore Mining Ltd for the Reddale Mine, Burkes Creek washery and related assets (near Reefton) is expected in May or June. However, mining operations by Solid Energy will cease in mid-April.

In Southland, the sale of Ohai and New Vale mines to Greenbriar, a privately owned South Island resources group, is expected to be finalised on Friday this week with all 61 staff transferring to the new owner.

Ends.

 

For further information:

Mr Tony King, Chief Executive, Solid Energy New Zealand

Tel: +64 3 345 6000