Pike River Coal receiver PricewaterhouseCoopers previously anticipated the sale of the mine to be completed by early 2012, however receiver John Fisk told ILN this would be unlikely.

“One of the issues is that the findings of the Royal Commission haven’t come out yet and any regulatory changes as a result of the Royal Commission will undoubtedly have an impact on purchases,” he said.

“It’s now very difficult to say when a sale will be concluded.”

Last month Fisk said there were a number of international parties interested in snapping up the mine.

Pike River went into receivership in early 2011 after an explosion at the mine in November 2010 resulted in the death of 29 men.

The ongoing Royal Commission Inquiry into the disaster has revealed damning evidence into the mine’s often flawed safety system, prompting the inquiry to consider imposing new safety regulations.

Possible safety requirements could include a compulsory second means of egress and improved ventilation devises.

A hearing has been scheduled for April 2 in Greymouth to hear final submissions and feedback on policy issues, with the commission’s findings expected to be reported later this year.

Emergency services have been unable to recover the bodies of the miners due to unstable conditions at the mine. On top of the unknown cost of recovering the bodies, Fisk said the “significant costs” of introducing safety requirements had buyers concerned.

Due to this, Fisk said there could be a sale structure whereby the successful buyer would offer a smaller deposit upon the purchase and larger payments upon conditions being met.

While a sale of the mine isn’t likely to be any time soon, Fisk said he was still confident of a successful sale process.

“We’re optimistic that we can still achieve a sale,” he said.

Included in the sale of Pike River will be the establishment of a trust to help oversee efforts in recovering the men.