The receiver for Pike River Coal says several interested companies are having talks now with regard to a possible purchase of the mine.
Twenty-nine men were killed in a series of explosions that began at the West Coast mine on 19 November last year.
The mine was placed into receivership in December last year and former contractors owed $5 million are applying to the courts to have Pike River Coal Ltd liquidated.
Receiver John Fisk, of PricewaterhouseCoopers, told Morning Report one company interested is state-owned miner Solid Energy.
"We are in a sales process. We've got interested parties going through due dilligence and there is an asset realisation process which is essentially half-way through.
"There's a timetable creditors are all very aware of and unfortunately, we can't go any faster than that."
Mr Fisk says he hopes to identify a buyer by August.