Solid Energy to cut a quarter of its Stockton mine workforce

Fri, 06 Jun 2014

By Pattrick Smellie Newly appointed chief executive Dan Clifford told BusinessDesk the moves on their own were "not quite" enough to return Stockton to profitability on an earnings before interest, tax, depreciation, amortisation and movements in the value of financial instruments basis. "There are more efficiencies that we need to continue to work through", although today's announcements were a "big step forward in getting to a cash neutral position" in the export-oriented coking coal part of the business, which accounts for about ha...

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