| This comprises the whole of Old Avondale Colliery and part of Huntley Colliery. The acquisition is subject to Australian ministerial approval. The company proposes to re-name the colliery as NRE No 2 Colliery. |
| GNCL vice chairman and managing director Arun Jagatramka said: "This strategic investment strengthens the position of our company in the Southern Coalfields of New South Wales. The coalfields is renowned for producing high quality hard coking coal and the investment makes sense given its vicinity to our NRE No 1 Colliery." |
| The company has started preparing development applications to begin mining in the shortest possible timeframe. |
| The acquisition and development of the mine will cost about 80 million AUD. Ernst & Young Mergers advised Gujarat NRE Coke as lead corporate finance advisors and Corrs Chambers Westgarth as legal advisors. |
| The mining leases being transferred comprise of approximately 5,500 hectare within the Illawarra Coal Measures of the Sydney Basin, Wongawilli and Tongarra Seams both of which have been mined previously in the adjoining leases, and indicated recoverable reserves totaling approximately 96 million tonne. |
| In December 2004, Gujarat NRE Coke completed the acquisition of the NRE No. 1 Colliery that is located in close proximity to the proposed NRE No. 2 colliery. |
| This earlier acquired mine, 'NRE No.l Colliery' located near Sydney had already commenced production on March 16, 2005 from the Balgownie Seam at Russell Vale. |
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