Lanco Infratech Ltd, a major Indian infrastructure company, has acquired Australian coal miner, Griffin Coal Mining Co. Pty Ltd and Carpenter Mine Management Pty Ltd (Griffin Coal). The size of the deal has not been disclosed, but is thought to be about AU$ 825 million.
Griffin Coal owns the largest operational thermal coal mines in Western Australia. The mine currently produces over 4 million tpa of coal and can be ramped up to over 15 million tpa in the near-term, post development of evacuation infrastructure. The mining tenements contain over 1.1 billion t of JORC compliant thermal coal resources.
The mine is located on the western coast of Australia, closer to India compared to the mines in New South Wales and Queensland. Significantly, the Griffin mines are well connected to two ports through both rail and road. The nearest port being the Port of Bunbury, 85 km from the mine.
Read the article online at: https://www.worldcoal.com/coal/16122010/another_indian_company_invests_in_coal_assets_abroad/