Solid Energy will close the Huntley East coal mine.
Solid entered voluntary administration in early August, stating at the time it planned to carry out a sale of its remaining assets over the next two years.
The miner had enormous debt levels, and was no longer seen as viable.
Now the first of its assets will be shut, afterstaff at the Huntly East mine were called into a meeting to discuss the operation’s future, according to Stuff.co.nz.
The closure is a major blow for the 68 staff still working at the underground coal mine, who were today told there is “no chance whatsoever” of the mine being sold or becoming profitable in the current economic environment.
Once closed, all but three of the staff will be made redundant, as they will be held on to carry out the closure of the site.
The mine has been in operation since 1978.