India’s Gujarat NRE Coke is extending its strategic interests in Australia, buying a 5 per cent stake in Australian Stock Exchange-listed coal producer Resource Pacific Holdings for A$8.1 mill, together with a coal offtake agreement for a minimum of 5 mt over the next ten years. Resource Pacific will produce around 4 mt of coal and supply to Gujarat begins in early 2006.
Earlier, a Gujarat NRE subsidiary bought the old Avondale Colliery and part of Huntley Colliery in the Illawarra at a cost of around A$80 mill. The company believes recoverable reserves could total around 96 mt at the sites, which has been renamed NRE No 2 Colliery....
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This complete item is approximately 270 words in length, and appeared in the November/December 2005 issue of Bulk Materials International, on page 4.
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