Solid Energy confirms Pike River interest

Solid Energy has submitted an expression of interest in buying the Pike River mine's assets. Photo / Supplied

Solid Energy has today confirmed its interest in the Pike River Mine, submitting to the receivers an expression of interest to acquire the mine's assets.

The company's chief operating officer, Barry Bragg, said Solid Energy has the "knowledge, experience and track record to mine the resource safely and economically".

Mr Bragg also reaffirmed the company's commitment to recover the remains of the 29 men who died in the November 14 blast and to address the situation of the unsecured West Coast creditors.

The mine has not been accessed since the blast as authorities have deemed gas levels unsafe.

"We believe Solid Energy is uniquely positioned to develop and implement a sound mine management plan that would allow the mine to be successfully operated, but we know that there is no short term fix to get the mine up and running again," Mr Bragg said.

"It will take a long-term commitment of considerable resources and capital over several years, as well as working with key parties including the families of those who died in the mine and the West Coast community.

"While Solid Energy is keen to acquire the Pike River assets, we are cautious about the prospect as we don't believe the resource and its quality are characterised, or the geology understood, to anywhere near the level required in these types of challenging conditions, even in the areas that have been mined. There was also considerable damage to the mine from the explosions so we also have doubts about how much of the existing infrastructure will be useable.

"However, we are keen to work with the receivers of Pike River Coal to see if an acceptable proposal can be put together for Solid Energy to acquire the mine and bring it back into safe production as soon as possible so that it can once again provide jobs and contribute to the West Coast economy."

- NZHERALD STAFF