Thursday, 13 Oct 2011
A major Illawarra coal producer said carbon tax will not affect its plans to massively expand its operations.
Gujarat NRE has told the Australian stock exchange, the carbon tax will not affect its future growth and that it expects the tax to cost $2.70 per tonne of coal produced.
Mr Arun Jagatramka Chairman says the company will become one of Australia largest producers of hard coking coal to meet the growing demand in India.
He said that "The Indian steel industry today is producing about 70 million tonnes we expect India to be going to 200 million tonnes in less than 10 years' time that will require an additional 100 million tonnes of coking coal which is more than the current production of hard coking coal in Australia."
Mr Jagatramka says the Illawarra coal supplies are well suited to long-wall mining. He said that "The quality that we have here in the Illawarra is part of the top 10% in quality perspective of all the coke and quality in the world."
Meanwhile, Gujurat NRE has officially unveiled its new long-wall mining equipment which will be based at the company Russell Vale mine site north of Wollongong.
The company says the new equipment to benefit the region, with the machine expected to allow for up to three million tonnes of coal to be mined within the next three years.
The mine expansion has won approval from New South Wales Planning but has been referred to the Planning Assessment Commission for final approval due to the late disclosure of political donations.
(Sourced from www.abc.net.au)
A major Illawarra coal producer said carbon tax will not affect its plans to massively expand its operations.
Gujarat NRE has told the Australian stock exchange, the carbon tax will not affect its future growth and that it expects the tax to cost $2.70 per tonne of coal produced.
Mr Arun Jagatramka Chairman says the company will become one of Australia largest producers of hard coking coal to meet the growing demand in India.
He said that "The Indian steel industry today is producing about 70 million tonnes we expect India to be going to 200 million tonnes in less than 10 years' time that will require an additional 100 million tonnes of coking coal which is more than the current production of hard coking coal in Australia."
Mr Jagatramka says the Illawarra coal supplies are well suited to long-wall mining. He said that "The quality that we have here in the Illawarra is part of the top 10% in quality perspective of all the coke and quality in the world."
Meanwhile, Gujurat NRE has officially unveiled its new long-wall mining equipment which will be based at the company Russell Vale mine site north of Wollongong.
The company says the new equipment to benefit the region, with the machine expected to allow for up to three million tonnes of coal to be mined within the next three years.
The mine expansion has won approval from New South Wales Planning but has been referred to the Planning Assessment Commission for final approval due to the late disclosure of political donations.
(Sourced from www.abc.net.au)
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