Solid Energy to issue force majeure notice

Wednesday 23rd February 2011

State-owned coal miner Solid Energy is stockpiling coal destined for foreign markets at its mines until its export logistics chain through Lyttelton Port of Christchurch is operational.

"We expect to issue force majeure notices for the interruptions to shipments that we suffer as a result of the Christchurch earthquake event," chief operating officer Barry Bragg said.

The company's mining operations are continuing to operate as normal.

The company exports coal from mines on the West Coast via a rail route to Christchurch and via Lyttelton. Its head office is in Christchurch in the suburb of Addington, and is damaged but an emergency team is operating from it.

The miner is waiting for reports from KiwiRail and Lyttelton Port of Christchurch.

Solid Energy has revenues of $690 million a year. It exported 1.7 million tonnes of coal in the year to June 30, 2010.

NZPA

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