This article needs to be updated.(November 2018) |
NZX: PRC, ASX: PRC | |
Industry | Coal mining |
Headquarters | |
Key people | Receivers; John Fisk, David Bridgman and Malcolm Hollis, PricewaterhouseCoopers [2]
Directors; John Dow (Non-Executive Chairman) Stuart Nattrass (NED) Arun Jagatramka Director Raymond F Meyer Director Roy Antony Radford Director Dipak Agarwalla Director [3] |
Number of employees | 180 (as of 22 September 2010) |
Website | Pike River Coal Ltd |
Pike River Coal Ltd was a mining company listed on the New Zealand and Australian stock exchanges. Its primary operation was the Pike River Mine, the site of a mining disaster with 29 deaths on 19 November 2010. [4]
The company first listed and began trading on the New Zealand Exchange on 20 July 2007. On 22 November 2010, trading in the company's shares and options was suspended from the New Zealand Exchange at the company's request, pending developments from the mining disaster. [3] On 12 December 2010 the company was placed in receivership.
Pike River Mine is a coal mine located 46 km east of Greymouth in the West Coast Region of New Zealand's South Island. [3] The operation was set up to mine the Brunner seam, a bituminous coal deposit with lower ash and varying sulphur content.
Peter W Whittall, a 29-year veteran miner and mining executive, was appointed CEO on 2 October 2010. The Pike River Mine disaster occurred less than two months later. Prior to his role as CEO, Whittall held the position of General Manager Mines and was responsible for on-site construction, mine development and recruitment at the Pike River operation. [5] Whittall became the company spokesperson during the mining disaster.
The previous head of the company was Gordon Ward, who was managing director and CEO from May 2007 until 1 October 2010. Until his departure, Ward had led Pike River Mine from its initial conceptual design for fourteen years. [6]
The company raised NZ$85 million in additional capital for expanding the Pike River Mine in 2007. [7] As of August 2007, over NZ$100 million had already been invested into developing the mine. [8] By June 2010, Pike River Coal had invested a total of $288 million in developing the mine. Pike River Coal reported net operating losses of $39 million in the year to June 2010, and $13 million in 2009. [9]
Prior to the mine disaster, Pike River Coal Ltd had a market capitalisation varying around NZD400 million. Pike River Coal was initially held by New Zealand Oil & Gas (29% stake plus options and bonds) [10] as well as the two Indian companies; Gujarat NRE Coke Limited, (17% share), and Saurashtra Fuels Private Limited, (15% share), with the two latter companies intending to buy about half the running production of the mine's coal. [11] After the initial public offering, the percentages changed to NZ Oil and Gas 31%, Gujarat NRE Coke 10%, Saurashtra Fuels 8.5%, private minority shareholders had 7.9% and the remaining 42.5% was sold to the public. [12]
On 12 December 2010, New Zealand Oil & Gas released a statement saying that it had decided to put Pike River Coal into receivership. [13] On 13 December 2010, New Zealand Oil And Gas stated that Pricewaterhouse Coopers had been appointed receivers. [14]
The company was purchased by Solid Energy in 2012, although the government is responsible for investigation and re-entry into the mine.
In July 2013 the company was ordered to pay $110,000 to each of the victims' families and fined $760,000, [15] but in the end didn't pay the fine and only paid $5000 to each family, saying it didn't have the money. [16] [17] In November 2013 Labour Party leader David Cunliffe said if elected, Labour would ensure the families receive the payouts they were awarded. [18] [19]
Friday, 19 November, saw a gathering of workers from Pike River mine and five contracting firms beneath the earth's surface. Just like any other day, the mine echoed with the comings and goings of its workforce, with men entering and exiting at various intervals. However, fate intervened at 3:44 p.m., when an explosion disrupted power and communication within the mine, trapping 31 men below ground. Daniel Rockhouse was in the midst of refilling his loader in the tunnel when the explosion struck, hurling him off his feet and into unconsciousness. Upon regaining awareness amidst the smoke-filled air, he groped through the darkness of the tunnel. After a harrowing journey of about 300 metres, he encountered Russell Smith lying on the ground. Together, they struggled toward the mine entrance, Rockhouse supporting Smith while clutching a rail for stability with his free hand. Both men were afflicted by carbon monoxide poisoning, emerging as the sole survivors among their colleagues. The other 29 workers [20] in the mine succumbed either to the explosion's force or to suffocation from toxic gases. [21]
CCTV footage captured the eruption of a pressure wave and flying debris from the mine entrance. Subsequent aerial inspections revealed significant damage to the backup fan atop the ventilation shaft, accompanied by charred vegetation in the vicinity.
In the ensuing three days, uncertainty clouded discussions regarding the possibility of re-entering the mine. The previous major underground mine explosion, at Strongman mine, had transpired over four decades prior, leaving a dearth of expertise in managing such crises. Although those acquainted with coal mining understood the grim reality that survival for the men within was improbable, public pressure mounted for a re-entry attempt.
Subsequent explosions on three more days 24, 26 and 28 November [22] underscored the perilous conditions, firmly dissuading any re-entry attempts. Consequently, the decision was made to seal the mine for safety reasons.
BHP, officially named BHP Group Limited and formerly known as BHP Billiton, is an Australian multinational mining and metals public company headquartered in Melbourne, Australia.
A mining accident is an accident that occurs during the process of mining minerals or metals. Thousands of miners die from mining accidents each year, especially from underground coal mining, although accidents also occur in hard rock mining. Coal mining is considered much more hazardous than hard rock mining due to flat-lying rock strata, generally incompetent rock, the presence of methane gas, and coal dust. Most of the deaths these days occur in developing countries, and rural parts of developed countries where safety measures are not practiced as fully. A mining disaster is an incident where there are five or more fatalities.
Teck Resources Limited, known as Teck Cominco until late 2008, is a diversified natural resources company headquartered in Vancouver, British Columbia, that is engaged in mining and mineral development, including coal for the steelmaking industry, copper, zinc, and energy. Secondary products include lead, silver, gold, molybdenum, germanium, indium and cadmium. Teck Resources was formed from the amalgamation of Teck and Cominco in 2001.
Xstrata plc was an Anglo-Swiss multinational mining company headquartered in Zug, Switzerland and with its registered office in London, United Kingdom. It was a major producer of coal, copper, nickel, primary vanadium and zinc and the world's largest producer of ferrochrome. It had operations in 19 countries across Africa, Asia, Australasia, Europe, North America and South America.
Massey Energy Company was a coal extractor in the United States with substantial operations in West Virginia, Kentucky and Virginia. By revenue, it was the fourth largest producer of coal in the United States and the largest coal producer in Central Appalachia. By coal production weight, it was the sixth largest producer of coal in the United States.
Solid Energy was the largest coal mining company in New Zealand and is a state owned enterprise of the New Zealand Government.
The Pike River Mine is a coal mine formerly operated by Pike River Coal 46 km (29 mi) north-northeast of Greymouth in the West Coast Region of New Zealand's South Island. It is the site of the Pike River Mine disaster that occurred on 19 November 2010, leading to the deaths of 29 men whose remains have not been recovered. The mine and its assets are owned by the Department of Conservation, whom, on 1 July 2022, assumed ownership and management following the dissolution of the Pike River Recovery Agency. The former mine site and its surrounding land are a part of Paparoa National Park.
The Brunner Mine disaster happened at 9:30 am on Thursday 26 March 1896, when an explosion deep in the Brunner Mine, in the West Coast region of New Zealand, killed all 65 miners below ground. The Brunner Mine disaster is the deadliest mining disaster in New Zealand's history.
Mining in New Zealand began when the Māori quarried rock such as argillite in times prior to European colonisation. Mining by Europeans began in the latter half of the 19th century.
The Brunner Mine was a coal mine on the West Coast of the South Island in New Zealand.
The Strongman Mine was an underground coal mine north of Greymouth on the West Coast of New Zealand from 1938 to 2003.
The Pike River Mine disaster was a coal mining accident that began on 19 November 2010 in the Pike River Mine, 46 km (29 mi) northeast of Greymouth, in the West Coast region of New Zealand's South Island following a methane explosion at approximately 3:44 pm. The accident resulted in the deaths of 29 miners.
Alpha Metallurgical Resources is a large American producer of metallurgical coal for the industrial production of steel and iron and low-sulfur thermal coal to fuel steam boilers for the production of electrical power. In November, 2018 the company was acquired by Contura Energy. The company also provides industry services relating to equipment repairs, road construction and logistics, with domestic operations and coal reserves within the states of Virginia, West Virginia, Kentucky, Wyoming, Utah, Illinois, Tennessee, and Pennsylvania. Alpha Natural Resources does not produce all of the coal it sells; much of the coal sold by Alpha Natural Resources is purchased from independent mining operations and then resold in the worldwide market.
Energy resources bring with them great social and economic promise, providing financial growth for communities and energy services for local economies. However, the infrastructure which delivers energy services can break down in an energy accident, sometimes causing considerable damage. Energy fatalities can occur, and with many systems deaths will happen often, even when the systems are working as intended.
The Pike River Recovery Agency was a stand-alone New Zealand Government department. Established in 2018, its stated aim was to work with families of victims of the 2010 Pike River Mine disaster to plan and facilitate the manned re-entry of the mine's drift. The Agency's purpose was to gather evidence on the disaster with the goals of preventing future mining accidents, giving the Pike River families closure and, if possible, recovering the bodies of the deceased miners.
New Zealand mine disaster may refer to:
New Zealand coal reserves are in excess of 15 billion tonnes, mainly in Waikato, Taranaki, West Coast, Otago and Southland. Over 80% of the reserves are in Southland lignite deposits. These were worth $100 billion in 2010.
Pike River is an upcoming New Zealand drama film. Directed by Robert Sarkies, it stars Melanie Lynskey and Robyn Malcolm.