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$11.6m electricity supply contract to Pike River completed


Monday 23rd July 2007

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Pike River Coal, which listed on the sharemarket on Friday, now has electricity to its operation 46km northeast of Greymouth.

Facilities for the hard coking coal mine now had electricity following the completion, within budget, of a $11.6 million contract by Transpower and local supply company Westpower, Pike River said today.

Mines general manager Peter Whittall said getting power to the Pike site was another important step towards the start of coal production by next March.

Electricity would be used to power the coal preparation plant, pumps, mine ventilation, mining equipment and for offices and workshops.

Transpower had installed and commissioned a new switch station 40km northeast of Greymouth, taking power from the 110kV national grid line running from Reefton to Dobson.

From the switching station, Westpower had installed a 7.5km 110kV line to the new main substation at Pike River's coal preparation plant location, Pike River said.

The substation would supply power to the coal preparation plant and via 8.6km of 33kV line, up to the mine portal.

Fully insulated and extra strength power cable had been used on the last 4km of the 33kV line to the mine portal to minimise damage to native trees from fire or discharge should the cable be brought down by storm damage.

Pike River said it would continue to evaluate the potential for on-site power generation from coal mine methane as the mine was developed.

Pike River shares were down 7c in mid afternoon trade today to 95c, having listed at $1.07 on Friday -- a 7% premium over their $1 issue price.

Pike raised $85 million in its initial public offering, accepting oversubscriptions of $20 million.

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