Stockton long-term investments confirmed, production cut in response to steel downturn
30 Jan 2009
Solid Energy has confirmed it will invest $100 million in a new coal processing plant at Stockton Opencast Mine in the Buller, the next major step in a substantial long-term investment programme designed to secure a further 20-year life for the mine.
The company also said that while it has secured and confirmed orders from international customers for 10 shipments of Stockton export coal for the first three months of the year, it will cut coal production at the mine by 20 per cent from July 1 this year in response to the worldwide reduction in international demand for steelmaking coal.
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