Solid Energy To Purchase Pike Coal Mine in New Zealand

Reuters reported that Solid Energy will buy the New Zealand-based Pike coal mine where an explosion killed miners in 2010.

As quoted in the market news:

There is estimated to be about 18 million tonnes of high-quality coking coal, with a market value of billions of dollars remaining at Pike River, which was only a matter of months into its productive life when the explosion occurred.

Click here to read the full Reuters report.