Kiwi Death Blast Mine Goes Bust – None Recovered
THE worst possible news has come for the grieving families of 29 coal miners killed in explosions last month. The firm which ran the Kiwi coal mine where the 29 including two Britons died, has gone under.
The still blazing mine’s ventilation shaft, above, was sealed and capped off yesterday and today, Pike River Coal chairman John Dow said NZ Oil & Gas, the company’s largest shareholder, has appointed accountants PricewaterhouseCoopers as receivers. Mass redundancies are expected later today, December 13, 2010.
The first methane explosion blasted through the mine over three weeks ago, and the 29 miners including Pete Rodger, 40, from Perthshire, and Malcolm Campbell, 25, from St Andrews, Scotland, were declared dead after a second blast five days later.
The bodies have not been recovered because of fire in the mine.
It is unlikely a team of liquidators will find the cash or think it necessary to fund any further effort to recover the dead miners and the pit is likely to be permanently sealed…unless public pressure forces the New Zealand Government to fund the recovery.
The Kiwi government, voted in during November 2008, does not have to seek re-election for at least a year.
Posted: 13th, December 2010 | In: Money Comment | TrackBack | Permalink
