China coal giant bids for New Zealand’s fatal Pike River mine
The Manawatu Standard reports giant Chinese state-owned Shanxi Coal is understood to be in the running to buy New Zealand’s Pike River Coal as part of a joint bid with local miner Solid Energy. Bids closed a week ago, with four players making offers, sources said.One Indian company is believed to have pulled out and another Indian company was still understood to be in the running. The state-owned mine operated by Solid Energy was put up for sale as part of a privatization programme by the New Zealand government and after an enormous methane explosion ripped through the mine near Greymouth on November 19 last year killing 29 men.
The Manawatu Standard reports the Pike mine remained a “technical challenge” and a player from overseas might not have the right skills to mine in what was a difficult area. It would be surprising if the mine reopened within three to five years under new owners, sources said.
Solid Energy reported in August earthquake and disruptions related to the Pike River mining disaster slashed its profit by about $35 million.
MINING.com reported in June a mining safety specialist who quit Pike River coal mine over concerns it was too dangerous said the mine lacked critical equipment required in Australian mines and that it ‘was like mining from the 1960s’.
The Manawatu Standard reports the Pike mine remained a “technical challenge” and a player from overseas might not have the right skills to mine in what was a difficult area. It would be surprising if the mine reopened within three to five years under new owners, sources said.
Solid Energy reported in August earthquake and disruptions related to the Pike River mining disaster slashed its profit by about $35 million.
MINING.com reported in June a mining safety specialist who quit Pike River coal mine over concerns it was too dangerous said the mine lacked critical equipment required in Australian mines and that it ‘was like mining from the 1960s’.
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