Solid Energy gearing stuck about 70 percent unless coal prices recover

Fri, 11 Apr 2014

April 11 (BusinessDesk) – Solid Energy continues to forecast far higher levels of debt than sector peers and does not expect that to improve until international coal prices recover, Parliament’s commerce select committee says in a report on the troubled state-owned enterprise, published today. Solid Energy came close to commercial failure in 2012 when, like other coal mining companies around the world, it was caught out by a sharp plunge in the price of coal, which saw it report a $40.2 million loss in 2012 and a further $335.4 million loss i...

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