Saturday, 28 Jan 2012
The latest round of negotiations at Lanco's Griffin coal mine have failed. A settlement is yet to be reached in the battle between unions and the company over pay and working hours.
According to the Collie Mail, unions previously believed they had come to an agreement with Lanco over the proposed shift changes. However the company is still pushing for an increase in shift times and hotseat changeovers on site, with the aim to enhance production fourfold.
CFMEU secretary Mr Gary Wood stated that Lanco will not be able to support its motion. He said that "There is no way in the world they can get this up. They won’t be able to get it up before arbitration. We have provided documents showing it (the longer shift time) is inappropriate from a fatigue point of view.”
He added that "It is also is inappropriate from a community point of view. There are only 24 hours in a day and the workers need to travel, prepare for work and recover."
Mr Wood stated that while the most recent round of negotiations had failed, talks are progressing. He said that "We had only half a day with Griffin on Monday and are getting close. But nothing is agreed until everything is agreed."
The major sticking point remains the increased shift hours.
Mr Wood further said that "There is no firm position one way of the other, but we are reasonably confident that common sense on the safety issues will prevail.”
(sourced MiningAustralia.com.au)
Showing posts with label Griffin Coal. Show all posts
Showing posts with label Griffin Coal. Show all posts
Saturday, January 28, 2012
Monday, March 21, 2011
Indian suitors eye Australia's Premier Coal
With Lanco looking to build on its recent Griffin Coal purchase, a new turf war is set to emerge between Indian suitors and some Chinese firms for the $500m assets of Premier Coal.
Mar18, 2011
By Shivom Seth
MUMBAI - Following Lanco Infratech $830 million for Griffin Coal's adjacent mines last year, Premier coal mine, which supplies Western Australia's electricity network, is up for grabs.
In 2007, UBS valued Premier Coal at $500m. Officials at Lanco, who are also said to be eyeing Premier Coal, said that owning both the mines ``made perfect sense'' as the company could ensure efficiencies of scale.
The mine is located near Collie, 200 km south of Perth. India's GVK Power is also said to be amongst the forerunners in the bid.
A reliable company official said that since GVK has lost out to Lanco in the Griffin auction race, it was very keen to ``hold on to this prize catch''.
Reports indicated that last year, the Perth-based Wesfarmers considered adding Premier Coal to the Griffin Coal pitch, but certain circumstances had ensured that the company pulled out of the bidding process in September.
Wesfarmers executives were reportedly shocked at how much Lanco was willing to pay for Griffin. Now, with Lanco looking to build on its recent purchase, a new turf war may emerge between Indian suitors and some Chinese firms.
Although the world's second-largest economy is at a strategic inflection point in terms of its commitment to become more energy efficient and reduce the carbon intensity of its economy, coal will continue to play an important part, analysts said and market sources indicate that several Chinese firms have shown interest in the project
Though China's new five-year plan proposes to cap the country's energy use at 4 billion tonnes of coal equivalent a year by 2015 (up from 3.25 billion in 2010), companies are scouting Australian shores.
Wesfarmer officials have been quoted as saying that they fielded enquiries from both Chinese and Indian firms.
Interestingly, three Indian corporates have thrown their hats into the ring for the coal assets of one of Australia's largest thermal coal explorers, Bandanna Energy.
In a deal reportedly valued at $1.5 billion, GVK, state-owned consortium ICVL and Reliance Power are said to have bid for the assets. Analysts said that the Bandanna Energy is estimated to have reserves of over 1.3 billion tonnes of thermal coal.
Bandanna Energy had initiated an auction process to sell the assets and had mandated UBS to advise it. The last date for submission of bids is March 31, 2011. By then, it will be action stations. (sourced :mineweb)
Mar18, 2011
By Shivom Seth
MUMBAI - Following Lanco Infratech $830 million for Griffin Coal's adjacent mines last year, Premier coal mine, which supplies Western Australia's electricity network, is up for grabs.
In 2007, UBS valued Premier Coal at $500m. Officials at Lanco, who are also said to be eyeing Premier Coal, said that owning both the mines ``made perfect sense'' as the company could ensure efficiencies of scale.
The mine is located near Collie, 200 km south of Perth. India's GVK Power is also said to be amongst the forerunners in the bid.
A reliable company official said that since GVK has lost out to Lanco in the Griffin auction race, it was very keen to ``hold on to this prize catch''.
Reports indicated that last year, the Perth-based Wesfarmers considered adding Premier Coal to the Griffin Coal pitch, but certain circumstances had ensured that the company pulled out of the bidding process in September.
Wesfarmers executives were reportedly shocked at how much Lanco was willing to pay for Griffin. Now, with Lanco looking to build on its recent purchase, a new turf war may emerge between Indian suitors and some Chinese firms.
Although the world's second-largest economy is at a strategic inflection point in terms of its commitment to become more energy efficient and reduce the carbon intensity of its economy, coal will continue to play an important part, analysts said and market sources indicate that several Chinese firms have shown interest in the project
Though China's new five-year plan proposes to cap the country's energy use at 4 billion tonnes of coal equivalent a year by 2015 (up from 3.25 billion in 2010), companies are scouting Australian shores.
Wesfarmer officials have been quoted as saying that they fielded enquiries from both Chinese and Indian firms.
Interestingly, three Indian corporates have thrown their hats into the ring for the coal assets of one of Australia's largest thermal coal explorers, Bandanna Energy.
In a deal reportedly valued at $1.5 billion, GVK, state-owned consortium ICVL and Reliance Power are said to have bid for the assets. Analysts said that the Bandanna Energy is estimated to have reserves of over 1.3 billion tonnes of thermal coal.
Bandanna Energy had initiated an auction process to sell the assets and had mandated UBS to advise it. The last date for submission of bids is March 31, 2011. By then, it will be action stations. (sourced :mineweb)
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