Gujarat NRE to invest $65 million in its Australian mine

Subscribe to Oneindia News

New Delhi, Apr 28 (UNI) Gujarat NRE Coke Ltd today said it plans to invest 65 million dollars over the next two years to bring its Australia-based NRE Wongawilli Colliery to full production and hopes to ramp up production to about 2.5 million tonnes per annum by 2011-12.

Gujarat NRE's 50 million dollar acquisition of the West Dapto mine, previously known as Elouera Mine and owned by BHP Billiton, had been operating under care and maintenance since last year.

Today the company officially opened the the mine, located south west of Wollongong on Australia's south east coast.

Gujarat NRE Minerals Ltd Chairman Arun Kumar Jegatramka said his Company originally planned to re-open the neighboring NRE Avondale Colliery, which it purchased in mid-2005.

''However, after our acquisition late last year of Elouera Colliery it was decided to consolidate both the mines as one, which we now know as NRE Wongawilli Colliery,'' he said.

Ownership of the mine has given the Gujarat NRE group ready infrastructure, in particular mining equipment and railway access to Port Kembla.

UNI PBB MP AS1953

Please Wait while comments are loading...