Solid Energy have announced they will not re-enter the Pike River Mine because the risks to life are still too high.
Twenty-nine workers were trapped and killed on the 19th of November 2010 after a methane-gas explosion at the mine on the west coast of New Zealandís South Island.
Further blast over the days following the disaster frustrated efforts to reach the men, causing the mine to close as it was too dangerous to enter.
Families of the 29 miners lost in the explosions have campaigned for a recovery attempt, however they predicted the decision and asked supporters to protest outside the meeting this morning.
Board Chair Pip Dunphy made the announcement this morning after a meeting with Prime Minister John Key in Greymouth.
"We know this decision will be very disappointing to the family members and friends of the men who died in the mine," Ms Dunphy said.
"However any further loss of life in this mine is unacceptable and any possibility of other families having to go through what the Pike families have suffered is not something our board can support."
Ms Dunphy said following the Solid Energy board reaching its decision about the drift project, the board has decided to surrender the Pike River Mining Permit.
She said the next steps are a matter for discussion with the Government.
Solid Energy has been tasked with creating a re-entry plan that was technically feasible, financially credible and safe.
"In doing so, we have undertaken a rigorous risk assessment process supported by input from independent technical advisors.î
ìSafety has been our primary focus throughout. Despite our best endeavours we have been unable to reach a level of confidence that any re-entry plan can adequately protect the lives of those who would undertake the work.î
"Our analysis shows that, despite every effort to control or eliminate risks to life, there remain a number of potentially fatal risk factors."
Solid Energy held a meeting with family members discussing the possibility of re-entering the mine.
Family members entered the meeting armed with pictures of their loved ones and with yellow ribbons pinned to their clothes.
One of the family members, Bernie Monk held a box of files prepared to argue that the re-entry is feasible.