John Palmer's last act as Solid Energy's chairman was to announce the bad news: the state-owned enterprise had posted a $40.2 million net loss for the 2011-12 financial year on the back of major asset writedowns.

Former Solid Energy chief executive Don Elder says the main reason for the company's near failure was "a stunning blow" in the form of "an unprecedented collapse in coal prices".

Residents of a tiny rural community will gather this Tuesday to ponder its status as one of the most intensively drilled places in the country.

The Labour Party is calling for Solid Energy's former chief executive Don Elder to appear before the commerce select committee when its financial review is heard in March.

Officials are investigating a proposal which could lead to the Pike River mine being turned into an opencast coal pit stretching into a national park.

Genesis Energy has turned in a tidy-looking result for the six months to December 31, with net profit after tax up 85 per cent to $71 million.

Prime Minister John Key has denied that the Solid Energy crisis and Telecom job cuts are a black mark against the Government's handling of the economy.

Solid Energy is in crisis, with a Government bailout almost inevitable, mine closures possible and further job cuts likely in another restructure to try to salvage it.

Twice in the past decade, Solid Energy has enjoyed revenue close to $1 billion, and aside from last year has returned some healthy profits - and dividends for the Government.

The government's drive for new investment in oil and gas development in New Zealand has suffered another blow.

Editorial: The Prime Minister's first instinct over the recovery of the 29 men killed in the Pike River mine tragedy was the right one.

A mining sector group says New Zealand should be doing more to capitalise on the use of pollution-soaking clay to clean up dairy land.