Gujarat NRE Coke is planning to invest in Rey Resources (RRL), a Sydney-based company.According to a release issued by Gujarat NRE Coke to the BSE today, the investment will give exploration access to about 4000 sq kms in Western Australia where preliminary studies have already identified a 15 metre thick coal seam. "The wholly-owned subsidiaries of Rey Resources are also scouting for copper and gold in South America, which will add to the NRE basket of resources," the release added.The 19.9% investment by Gujarat NRE Coke entitles it to first right of refusal on any agency agreement for India in respect of any mine product produced in the future by Rey Resources or any of its three wholly-owned subsidiaries in Australia, Chile and Peru, the release added. "Arun Kumar Jagatramka, vice-chairman and managing director of the company, will be joining the board of Rey Resources shortly," the release said.
