30 Nov 2010

Pike River sells coal stockpile

1:02 pm on 30 November 2010

Pike River Coal has sold a 20,000 tonne stockpile of coal to Solid Energy.

Twenty-nine workers were killed following explosions at the West Coast mine near Greymouth which began on 19 November.

Shares in the company remain suspended.

Pike River Coal chairman John Dow says the stockpile of hard coking coal wasn't large enough to meet orders for the mine's main customers, so the company decided to sell it now.

At current prices, the deal is worth about $US4 million.

Mr Dow says the company will receive some of the money now, and the rest when Solid Energy sells on the coal.