What is going on at Solid Energy?

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What is going on at Solid Energy?

3News NZ

What is going on at Solid Energy?

How many jobs are going? And why?

Solid Energy says it's suspending operations at its Spring Creek mine.

The company completes a review involving many complex issues and interaction with different stakeholders.

What on earth does that mean?

At the moment, it means a kind of limbo pending what appears to be the inevitability of bad news.

About 230 people work in the Spring Creek mine, near Greymouth - already, as we all know, hit very hard by the disaster at Pike River.

Why is this confusing?

Well, look at what Solid Energy itself was saying in its own annual report, just last year.

There, clearly listed amongst the targets for 2012 to implement new development mining process, to increase production at Spring Creek mine.

That's just a year ago, since then, there has been a sharp downtown in the global coal market.

Times are clearly harder than they were, but so hard the entire operation is being suspended?

Lachlan Forsyth is on the coast, where, to say the least, they've been taken by surprise.

Watch the video to see the story.

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Comments

30/08/2012 7:31:50 p.m.

rod wrote:

cut jobs and then sell, this power company does not have the issue of water rights because it doesnt use a water dam. therefore the only company that can be sold at the moment.

30/08/2012 1:20:45 a.m.

Jim Seaview wrote:

QUOTE: "Well, look at what Solid Energy itself was saying in its own annual report, just last year.
There, clearly listed amongst the targets for 2012 to implement new development mining process, to increase production at Spring Creek mine.
That's just a year ago, since then, there has been a sharp downtown in the global coal market"

Clearly Solid Energy's blueprint of a long term plan is less than 6 months. Solid Energy had just purchased Pike River Coal for around $6 million only at the beginning of last month. Contractors and sub contractors at Pike River are still owed around $20 million but I do not know if Solid Energy has any responsibility to pay it.

What they do have responsibilty for are the 230 mine workers (and their families)positions at the Spring Creek Mine and when we read the above statements which clearly listed amongst the targets for 2012 to implement new development mining process, to increase production at Spring Creek mine -then we are all confused.

These 230 jobs represent a lot of families, their investment in local homes but more importantly - their community. You can guarantee that over half will leave the West Coast for Western Australia where many of the Pike River miners have set up their new lives. Local Schools, shops, bus & rail services in the Runanga / Greymouth will all suffer. Did the directors and management take all the above into consideration?????? Not likely



This SOE is half owned by the hard working, overtaxed and over-Rated, diligent Taxpayer and when you look at the above effects on the Community from decisions their directors and management took - then we can without hessitation say " Solid Energy never protected the taxpayers dollar or showed any diligent management to ensure that we (the Taxpayer) received the best value for our money.

Very Shoddy

Unbelievable - the West Coast has had more than their share of disasters and unfortunately all due to BAD MANAGEMENT practices & decisions.