 In mid-August 2012, the chief executive, Don Elder, announced a decline in Solid Energy's revenue of $200 million and a review of its operations.On 25 October 2012, Solid Energy confirmed it was moth-balling the Spring Creek Mine and that 220 miners would be made redundant.Solid Energy's annual report for the financial year ended June 2012 was released in November and showed a loss of $40 million, a decline of 146% from the profit for 2011.