Solid Energy wants Pike River mine - at the right price
State-owned company has confirmed its interest in the Pike River coalfield.
State-owned Solid Energy has confirmed its interest in the Pike River coalfield, hyping its bid by saying it is "almost certainly the only company with the credibility - knowledge, experience and track record - to mine the resource safely and economically.”
Pike River receivers Pricewaterhouse Coopers have assumed responsibility for the mine, nearly four months after 29 workers died as an underground explosion hit.
Hype aside, Solid Energy talked down the price saying it would be “one of the most challenging coal resources in the world to develop and that there are a number of current issues that have to be resolved.”
Solid Energy said the existing mine assets may not form a significant part of any future mining operation, leaving only the coal permit and access agreements as the primary assets of value.
“Obviously as a potential buyer of some of Pike River assets, we have a vested interest, but after what everyone has been through it is time for reality. We know everyone on the West Coast and in New Zealand would be concerned if the assets were acquired with great aspirations, but with a lack of the knowledge, understanding and experience to deliver in these conditions,” Solid Energy chief executive Don Elder said.
He said the company would consider all feasible options to recover the 29 bodies of the miners who died in the Pike River explosion.
There had been about a dozen expressions of interest for the mine since it was handed over.
NBR staff
Mon, 14 Mar 2011
Mon, 14 Mar 2011
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Solid Energy wants Pike River mine - at the right price
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