Solid Energy prepares for more job cuts at Stockton

Wed, 11 Mar 2015

By Pattrick Smellie March 11 (BusinessDesk) - State-owned coal miner Solid Energy is preparing for more redundancies at its Stockton mine, near Westport, as slumping global prices for coking coal threaten its long term viability and force it anew into talks with its banks to restructure its borrowing. Plans under way to stem those losses were in preparation and "reductions will be inevitable on the basis of those plans," chief executive Dan Clifford told parliament's finance and expenditure select committee at the company's annual review...

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