Crown extends clean-up promise to Solid Energy

Thu, 18 Sep 2014

By Pattrick Smellie Sept. 18 (BusinessDesk) - Commercially troubled state coal miner Solid Energy requires an extension of a government guarantee to meet the $103 million future cost of returning mined land to its pre-mined condition in order to maintain positive equity in its balance sheet. The extension of the company's remediation indemnity extends a similar deal made in 1987, when the then Labour government corporatised state coal mines and created Coalcorp. “The company’s directors are required to sign off the company’s annual acc...

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