Miner in technology deal

State-owned coal miner Solid Energy says it has secured exclusive New Zealand rights to technology that converts low-grade lignite and biomass to high-grade coal and synthetic crude oils.

The company yesterday said it had signed a binding heads of agreement with Australian company Ignite Energy Resources.

The two companies will work together to develop the "super critical water reactor" technology and build a pilot plant in New Zealand.

- NZPA