Solid Energy's lignite plans dead, all related assets for sale

Thu, 21 Feb 2013

Feb. 22 (BusinessDesk) - State-owned coal miner Solid Energy's plans for a multi-billion dollar new industry based on turning low-grade Southland lignite coal into diesel, fertiliser and burnable briquettes has been abandoned as the company struggles with mounting debts and low world coal prices. The new chairman of Solid Energy, Mark Ford, told Radio New Zealand the company could be profitable again with an improvement in world coal prices, but that the lignite projects were on the block. "I think that's part of the non-core assets that we w...

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