More coal mining jobs go in NZ

Solid Energy is cutting more than 40 jobs at its Stockton coal mine.

It comes less than a year after the miner slashed more than 150 positions from the Stockton operation, and a number of months after Solid Energy itself collapsed in the face of a continuing weak coal price.

The latest round of 41 job cuts at Stockton take staff levels to 225, down from approximately 1100 four years ago, according to Stuff.co.nz.

It comes as the operation carries out a series of restructures in order to make it a more attractive business for potential buyers, with Solid stating “ongoing efforts to improve financial performance".

"They build on substantial efficiencies already gained at the mine and will further strengthen the financial performance of the operations," the miner  said. 

The redundancies are reportedly in an effort to halt the mine’s complete closure

 

 

 

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