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Sale of Reefton Assets

MEDIA RELEASE

Sale of Reefton Assets

8 August 2017

Solid Energy has today completed the sale of its remaining Reefton assets to Moore Mining Ltd. The sale comprises the Reddale and Burkes Creek mining operations near Reefton, with the associated coal washery and plant and equipment.

The sale brings to an end Solid Energy operations in Reefton, which began in 1989 when the company purchased the Terrace underground mine.

Two weeks ago BT Mining Limited gained OIO approval for the purchase of the North Island and Stockton assets. This transaction is expected to settle at the end of August.

“With that sale, we will be progressively completing remaining operational and administrative activities by December 2017 prior to the company going into solvent liquidation by March 2018,” said Solid Energy Chief Executive Tony King.

Ends

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