The Pike River Coal mine, where 29 men perished in November, will formally be put on the market next week.
Receivers of the mine, PricewaterhouseCoopers said they want the mine sold by the end of June, according to a report in the New Zealand Herald on Thursday.
Advertising for the mine will begin in Australia next week and companies that could be interested are being contacted, with about 120 different industry contacts being targeted.
Experts have previously said it id doubtful Australian companies would want to purchase the damaged mine.
It has revealed it is expecting to spend upward of $100 million (AU$73.86 million) on a concept plan to resume mining at the site.
Earlier this month, Grey District Mayor Tony Kokshoorn said the families of citims were “fed up” with repeated delays to enter the mine and begin a recovery effort.
Receiver John Fisk said they have been advised it is not safe to enter the mine, and it was hoped that a bore hole to the mine are would be finished at the weekend to allow laser monitoring equipment to be lowered into the mine, currently set to happen next Wednesday.