Gujarat NRE Coke, India's largest independent metcoke producer, has announced the completion of its acquisition of Australia-based Elouera coal mine from the world's largest resources group BHP Billiton for an undisclosed amount.
In a statement on the issue, Gujarat NRE Coke said that the acquisition was carried out by the Australian flagship firm of the Gujarat NRE Coke Group, Gujarat NRE Resources NL (Gujarat), and that the mine lease and associated licenses, including the mine, would be transferred along with associated land holdings and the responsibility for rehabilitation and closure of the mine once operations are completed.
Gujarat plans to start mining from February 2008.
The acquisition of Elouera mine is expected to help NRE Group's objective to increase its exports to India in order to make better profits from the supply-demand imbalance.