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Gujarat NRE Coke begins Australian operations

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Our Web Bureau Mumbai
Last Updated : Jan 19 2013 | 8:47 PM IST
 According to a release issued by Gujarat NRE Coke to the BSE today, Gujarat NRE Australia (GNAL), a subsidiary of the company, owns and operates NRE No.1 Colliery, which started operations last Friday.

 "NRE No. 1 Colliery will initially start with one million metric tonne per annum, which will be increased later to two million metric tonne per annum," the release added.

 Arun Kumar Jagatramka, chairman of Gujarat NRE Coke, said: "We successfully concluded the landmark ownership of a coking coal mine NRE No.1 Colliery in Australia last year in December. We are proud to announce that it has been formally opened last week. This captive ownership (through a subsidiary) - the first such instance for the Indian industry - represents a significant de-risking against erratic supply and pricing, and protecting the company and customer interests. Not resting on it, we acquired another mine, in the Southern Coalfields of New South Wales, which will also become operational very soon."

  

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