Pike River Coal
Pike River Coal Ltd (NZX: PRC, ASX: PRC) is a mining company listed on the New Zealand and Australian stock exchanges. The company owns the rights to a premium hard coking coal resource in the South Island of New Zealand. Its primary operation was the Pike River Mine, the site of a mining disaster with 29 deaths in November 2010.
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. 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. The operation was set up to mine the Brunner seam, a bituminous coal deposit with lower ash and varying sulfur content. The high quality coal with low level of mineral contaminants means it can demand premium prices on world markets. Hard coking coal is the most valuable coal used in the manufacture of steel.
Read more about Pike River Coal: Company Management, History, See Also
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