| (Press
Release, December 15, 2004)
Mr
Narendra Modi, Honourable Chief Minister of Gujarat has been
visiting Australia and during his ongoing visit in the current
week, Gujarat NRE and BHP Billiton has entered into strategic
alliance on 15th December, 2004. Both Gujarat NRE and BHP
Billiton are happy that this strategic alliance has been inked
during the august visit of the Honourable Mr Narendra Modi
in Australia.
On this strategic alliance, Arun Kumar Jagatramka, Chairman
of Gujarat NRE Australia and Managing Director of Gujarat
NRE Coke has elaborated that the alliance will see NRE mine
coal in the recently purchased "NRE No 1 Mine�
with Illawarra Coal using its processing facilities in Port
Kembla to convert the raw coal into high quality coking coal.
The alliance will also provide for the coking coal to be then
used by Gujarat NRE in its coke ovens operations in the Indian
state of Gujarat, located to the north of Mumbai on India�s
west coast
Arun Kumar Jagatramka said the alliance would generate jobs
in the Illawarra area and in India with benefits to both countries.
"It links the coal miner to the customer to create certainty
of supply and assurance of quality whilst utilising the resources
of both countries to the fullest,� Mr Jagatramka said.
The plan provides for Gujarat NRE to mine the Bulli and Balgownie
coal seams in both the NRE No.1 Mine as well as the Cordeaux
Mine Lease. Coal production will commence in early 2005 and
preparations have begun to secure the necessary machinery
and skilled labour force.
Specialised mining equipment will be utilised to increase
production over the next three years to as much as 2.0 million
tonnes per annum. Gujarat NRE�s coke ovens and customers in
India will benefit from the high quality of the coal to be
mined
The overall benefit will be maximised by drawing on the expertise
of both companies in each phase of the operations.
Colin Bloomfield, President BHP Billiton Illawarra Coal, said
the project provided the opportunity for the coal industry
to provide extra jobs and value to the Illawarra community.
"Strategic alliances like these are one of the best ways
we can maximise Australia's value in the world community and
add value of the regional economy, " Mr Bloomfield said.
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