Solid Energy plans to shut unprofitable Huntly East mine, sees no prospect of finding a buyer

Wed, 07 Oct 2015

By Paul McBeth Oct. 8 (BusinessDesk) - Solid Energy, the state-owned coal miner in voluntary administration, plans to shut down its unprofitable Huntly East mine and lay off 65 staff after deciding the site stands "no chance whatsoever" of finding a buyer. The Waikato mine has been losing money since undergoing a major restructure in late 2013, costing about $500,000 a month to keep open, and was "deeply unprofitable," chief executive Dan Clifford said in a statement. Because of that, the company plans to permanently end production, which...

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