Gujarat NRE Coking Coal (GNM)

Shares / Stock Code

GNM

Stock Exchange / Sharemarket

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Gujarat NRE Coking Coal (GNM) focuses on the development of the NRE No.1 Colliery in the southern coalfields of New South Wales, which it acquired in December 2004. GNM has a joint venture with Southern Ocean Science Pty Limited and Pluton Resources Limited to explore, develop, and mine the Cethana Project. The company was listed on the Australian stock market (ASX) on 10 July, 2007.

Gujarat NRE Minerals is a subsidiary of Gujarat NRE Coke Limited, the largest manufacturer of Low Ash Metallurgical Coke in India. Gujarat NRE is involved in mining, processing and marketing of world class coal products. The Company owns and operates the mine, NRE No. 1 Colliery (formerly know as South Bulli Colliery), spreading over 6421 hector with reserves of over 300 million tonnes of coking coal and located in the Southern Coalfields of New South Wales, Australia. It holds the consolidated coal lease and other mining tenements which include mining purpose lease and exploration license to the NRE No. 1 Colliery. The colliery is surrounded to the north, south and west by other collieries.

The mine is located at a distance of 14 km from the Kembla Port Terminal in the Southern Coalfields of the New South Wales Coalfields. Gujarat NRE acquired the Mining Lease from the previous owners of the Mining Lease, Bellpac Pty Ltd (Bellpac). The lease comprises an extensive underground area, much of which is overlain by Cataract Reservoir Catchment Area the land of which is owned by the Sydney Catchment Authority (SCA).

Gujarat NRE has acquired the Coal Leases namely Consolidated Coal Lease 745 (CCL), Mining Purposes Lease 271 (MPL) and Exploration License 5932 (EL). CCL is for 64 km 2 area and is valid till December 2023 which was renewed in December 2002 for 21 years. These leases have since been transferred in the name of GNAL. These coal leases give GNAL the rights for carrying out the various mining and exploration activities in the three seams namely Bulli Seam, Balgownie Seam and Wongawilli Seam.

Gujarat NRE has invested significant amount for the development of the mine. The Colliery is being developed like a completely new mine employing the best of human resources and high quality infrastructure with excellent mining conditions. This will also help in the development of area around the mine and lead to better employment opportunities and living conditions. The mine started with an initial production target of 1 million metric tonnes per annum. It will be further developed in phases to mine over 4 millions metric tonnes per annum.