Solid Energy to purge a further 105 jobs as focus returns to core coal business

Wed, 08 May 2013

May 8 (BusinessDesk) - Solid Energy says it will cut 105 jobs, adding to 440 already shed as the unprofitable state-owned coal miner shrinks its focus back to coal after piling on debt as part of a grandiose expansion strategy. Solid Energy has been in talks with its banks and Treasury officials as part of a wide-ranging review of the business, which posted a $40 million loss last year, mothballed its Spring Creek mine and dropped or put up for sale a range of projects including plans to turn lignite into diesel. Chief executive Don Elder lef...

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