Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Solid Energy confirms changes at Stockton Mine in Buller

Solid Energy confirms changes at Stockton Mine in Buller

Solid Energy has today confirmed to its Stockton Mine staff that it will reduce the mine’s output and make changes to the way work is organised. The change, outlined as a proposal to staff on 6 June, is in response to continuing low international coal prices.

Chief Executive Dan Clifford says there was constructive feedback during the consultation period which resulted in some changes to the final structure.

As a result, Stockton’s workforce will reduce by 135 (two fewer than originally proposed on 6 June), from 521 to 386. Coal production at the mine will reduce from 1.9 million tonnes (Mt) a year to 1.4 Mt in the year to end-June 2015.

The decision will mean redundancy for 135 employees -- 33 management, technical, support services and administrative staff and 102 people employed under the collective agreement terms and conditions.

The company will now undertake a process to select employees for the remaining mining jobs and in other areas where fewer people are required. The selection processes are similar to those used by the company in earlier restructurings. It is expected that this will be completed by the end of July.

Note: Our 6 June 2014 statement is at http://coalnz.com/about/media-releases/2014/Solid-Energy-plans-production-and-job-reductions-at-West-Coast-export-mine.html

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news