Friday, 04 Nov 2011 | sourced Profit.NDTV
NDTV reported that Gujarat NRE Coke Limited has secured a USD 100 million long term loan agreement for Gujarat NRE Coking Coal to help the unit meet its capital expenditure needs.
As per report Axis Bank’s Hong Kong Branch sanctioned this agreement after India's largest independent producer of low ash metallurgical coke completed necessary formalities related to the agreement.
The company now has an access to the funds made available under the loan agreement.
Showing posts with label Gujarat NRE Coke. Show all posts
Showing posts with label Gujarat NRE Coke. Show all posts
Friday, November 4, 2011
Tuesday, October 18, 2011
Gujarat NRE gets nod to upgrade its NRE No 1 coal mine in New South Wales
Tuesday, 18 Oct 2011
Gujarat NRE receives approval to upgrade its NRE No.1 coal mine in New South Wales
Gujarat NRE can now begin the AUD 122 million upgrade of its NRE No.1 mine at Russell Vale after receiving approval from the NSW Planning Assessment Commission.
Following the commission’s written approval, Gujarat can continue the extraction of up to 1 million tonnes of coking coal per annum from the Bulli and Wongawilli seams for the next three years, continue transporting coal by truck to the Port Kembla Coal Terminal, and upgrade existing surface facilities and infrastructure.
The NSW Planning Assessment Commission made its determination after the Department of Planning and Infrastructure provided comprehensive and lengthy briefings covering issues such as subsidence, impacts on water resources, noise, air quality, traffic and incident reporting.
The NSW PAC also carefully considered the Department of Planning’s Assessment Report, including agency and public submissions.
Gujarat NRE plans to put on public exhibition further details of its $250 million expansion plans for the Russell Vale mine by the end of this year.
Gujarat’s NRE No.1 Colliery is located in the Southern Coalfields of NSW, 10 kilometres north of Wollongong and 16 kilometres from Port Kembla Coal Terminal.
The operation has JORC Reserves of 92 million tonnes and Resources of 314 million tonnes targeting the Wongawilli Coal Seam. Gujarat is targeting a 3 million tonne per annum production by 2015 and the mine has a potential mine life of 30 plus years.
(sourced from proactiveinvestors)
Gujarat NRE receives approval to upgrade its NRE No.1 coal mine in New South Wales
Gujarat NRE can now begin the AUD 122 million upgrade of its NRE No.1 mine at Russell Vale after receiving approval from the NSW Planning Assessment Commission.
Following the commission’s written approval, Gujarat can continue the extraction of up to 1 million tonnes of coking coal per annum from the Bulli and Wongawilli seams for the next three years, continue transporting coal by truck to the Port Kembla Coal Terminal, and upgrade existing surface facilities and infrastructure.
The NSW Planning Assessment Commission made its determination after the Department of Planning and Infrastructure provided comprehensive and lengthy briefings covering issues such as subsidence, impacts on water resources, noise, air quality, traffic and incident reporting.
The NSW PAC also carefully considered the Department of Planning’s Assessment Report, including agency and public submissions.
Gujarat NRE plans to put on public exhibition further details of its $250 million expansion plans for the Russell Vale mine by the end of this year.
Gujarat’s NRE No.1 Colliery is located in the Southern Coalfields of NSW, 10 kilometres north of Wollongong and 16 kilometres from Port Kembla Coal Terminal.
The operation has JORC Reserves of 92 million tonnes and Resources of 314 million tonnes targeting the Wongawilli Coal Seam. Gujarat is targeting a 3 million tonne per annum production by 2015 and the mine has a potential mine life of 30 plus years.
(sourced from proactiveinvestors)
Thursday, October 13, 2011
Australian coal producer Gujarat NRE downplays carbon tax impact
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)
Tuesday, March 29, 2011
Gujarat NRE sees long term coking coal prices at $225-250/t
Mar260, 2011
In an interview with CNBC-TV18, Arun Kumar Jagatramka, MD of Gujarat NRE Coke speaking about the hard coking coal prices said, "The USD 330 or USD 300 is not something that can be sustained at the current steel prices. Post June, I expect coking coal prices to come down to the reasonable level of 225-250."
Talking about the company’s acquisition plans he said, “We are always looking for acquisition but, Whitehaven Coal is not something that is on our radar.”
The company expects to post better performance in the current quarter than the last three quarters. It aims to cross 200,000 tonnes of production and sales of around quarter million tonne.
By 2015, the company is targeting to achieve 4 million tonne of coke production in India.
Below is the verbatim transcript of Jagatramka’s interview with Latha Venkatesh and Anuj Singhal of CNBC-TV18. Also watch the accompanying video.
Q: We understand that there is an Australian coal mining company Whitehaven Coal which is looking for purchases even the Aditya Birla Group apparently is interested in buying that Yanzhou Mine Company. Are you interested in more acquisitions in Australia and in Yanzhou Mining?
A: We are always looking for acquisition but, Whitehaven Coal is not something that is on our radar. Because it is mainly a thermal coal mine and we are focused on hard coking coal. We would like to remain focused on hard coking coal in the medium-term at least.
Q: Is there anything else on the radar in the next quarter that you maybe announcing in terms of acquisition?
A: New opportunities keep coming all the time. But, we always wait for the right opportunity and as of now, we don’t have any specific good opportunity that could be consider for acquisition.
Q: Have you already signed for the next quarter in terms of coking coal prices and last quarter the average was about USD 225 or so. What is the price that you are looking at in next quarter?
A: April to June quarter prices have been settled around USD 330. As far as signing the contracts, now that our mines are producing at a rate of around 2 million tonne so we are not buying any coal from third parties. Rather we have sold some surplus coal in the last two quarters. In the next quarter also some surplus coal would be sold to Chinese customers.
Q: So till what time do you think prices will sustain at these levels. Do you see then prices coming back to this may USD 250 or so?
A: The effects of floods are expected to be there at least until June. That way last few days also there has been another bout of heavy rains. Some coal shipments have been affected in terms of rail movement and other things.
Not to the extent it happened in January. So, for another two-three months until June you will have the impact of the floods and rains affecting the shipments in Australia.
Q: What would your best guess be of average coal prices in 2011?
A: USD 225 to USD 250 is a reasonable level which should be in the long-term sustainable price. The USD 330 or USD 300 is not something that can be sustained at the current steel prices.
Post June, I expect coking coal prices to come down to the reasonable level of 225-250 which is acceptable to most steelmakers today.
Q: This USD 330 that you are talking about is this one-off or all deals have been signed at this price now?
A: To our understanding most of the deals are being signed around this level because the spot prices continue to be in the range of USD 320-340 dollar level. There has not been any major new coking coal offers coming into the market that would drive down the price.
Q: What kind of projections you have in terms of production and sales of coke in the current quarter and more importantly next quarter?
A: In the current quarter, we should be doing better than the last three quarter. We should be crossing 200,000 tonnes of production and sales around quarter million tonne.
For the next financial year, we are targeting to cross a production level of 1 million tonne based on the current production plan that we have made. (sourced: CNBC-TV18)
In an interview with CNBC-TV18, Arun Kumar Jagatramka, MD of Gujarat NRE Coke speaking about the hard coking coal prices said, "The USD 330 or USD 300 is not something that can be sustained at the current steel prices. Post June, I expect coking coal prices to come down to the reasonable level of 225-250."
Talking about the company’s acquisition plans he said, “We are always looking for acquisition but, Whitehaven Coal is not something that is on our radar.”
The company expects to post better performance in the current quarter than the last three quarters. It aims to cross 200,000 tonnes of production and sales of around quarter million tonne.
By 2015, the company is targeting to achieve 4 million tonne of coke production in India.
Below is the verbatim transcript of Jagatramka’s interview with Latha Venkatesh and Anuj Singhal of CNBC-TV18. Also watch the accompanying video.
Q: We understand that there is an Australian coal mining company Whitehaven Coal which is looking for purchases even the Aditya Birla Group apparently is interested in buying that Yanzhou Mine Company. Are you interested in more acquisitions in Australia and in Yanzhou Mining?
A: We are always looking for acquisition but, Whitehaven Coal is not something that is on our radar. Because it is mainly a thermal coal mine and we are focused on hard coking coal. We would like to remain focused on hard coking coal in the medium-term at least.
Q: Is there anything else on the radar in the next quarter that you maybe announcing in terms of acquisition?
A: New opportunities keep coming all the time. But, we always wait for the right opportunity and as of now, we don’t have any specific good opportunity that could be consider for acquisition.
Q: Have you already signed for the next quarter in terms of coking coal prices and last quarter the average was about USD 225 or so. What is the price that you are looking at in next quarter?
A: April to June quarter prices have been settled around USD 330. As far as signing the contracts, now that our mines are producing at a rate of around 2 million tonne so we are not buying any coal from third parties. Rather we have sold some surplus coal in the last two quarters. In the next quarter also some surplus coal would be sold to Chinese customers.
Q: So till what time do you think prices will sustain at these levels. Do you see then prices coming back to this may USD 250 or so?
A: The effects of floods are expected to be there at least until June. That way last few days also there has been another bout of heavy rains. Some coal shipments have been affected in terms of rail movement and other things.
Not to the extent it happened in January. So, for another two-three months until June you will have the impact of the floods and rains affecting the shipments in Australia.
Q: What would your best guess be of average coal prices in 2011?
A: USD 225 to USD 250 is a reasonable level which should be in the long-term sustainable price. The USD 330 or USD 300 is not something that can be sustained at the current steel prices.
Post June, I expect coking coal prices to come down to the reasonable level of 225-250 which is acceptable to most steelmakers today.
Q: This USD 330 that you are talking about is this one-off or all deals have been signed at this price now?
A: To our understanding most of the deals are being signed around this level because the spot prices continue to be in the range of USD 320-340 dollar level. There has not been any major new coking coal offers coming into the market that would drive down the price.
Q: What kind of projections you have in terms of production and sales of coke in the current quarter and more importantly next quarter?
A: In the current quarter, we should be doing better than the last three quarter. We should be crossing 200,000 tonnes of production and sales around quarter million tonne.
For the next financial year, we are targeting to cross a production level of 1 million tonne based on the current production plan that we have made. (sourced: CNBC-TV18)
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