Solid Energy boss quits after shocker year

Sun, 03 Feb 2013

By Pattrick Smellie Feb 4 (BusinessDesk) - The chief executive of state-owned coal miner Solid Energy, Don Elder, is to follow most of the company's previous board of directors and hundreds of staff out the door, announcing his resignation after 12 years in the post. Elder's departure had been likely ever since last August, when he announced a shock $40 million loss in the year to June 30, the mothballing of the Spring Creek underground coal mine near Greymouth and an end to plans to extend the Huntly East mine in the absence of new contracts...

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