No government bailout for Solid Energy, Ryall says

Tue, 25 Sep 2012

By Paul McBeth Sept. 25 (BusinessDesk) - Embattled state-owned miner Solid Energy won't get a government rescue after a slump in international coal prices eroded the viability of two of its operations and forced it to cut jobs, State Owned Enterprises Minister Tony Ryall says. The government has turned down a plea for a $35 million bail-out after miners from the Spring Creek and Huntley East operations marched on Parliament in Wellington today. Ryall told reporters the government won't make a "one-off capital injection for the purpose of fo...

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