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Coal mines and Infrastructure
In a major move to emphasize its focus in mining and also keeping in mind the rising demand for coal across the globe, GVK has acquired 79% equity stake each in Alpha Coal and Alpha West Coal Mines and 100% equity stake in Kevin’s Corner Coal Mines, located in Queensland, Australia from Hancock Coal Pty. Ltd for USD 1.26 billion.These mines have reserves of about 8 billion tonne and a capacity of more than 80 million tonne per annum. When combined, these projects will create one of the largest thermal coal mining operations in the world. GVK has acquired 100% stake in a 500 km rail link and a 80 million tonne per annum port as part of the ‘pit-to-port’ logistics solution.
Alpha Coal and Alpha West Coal Mines
The Alpha Coal Project, declared as a ‘Project of State Significance’ by the Queensland Government, enjoys favorable geology. Its four principle layers dip from east to west and vary in thickness ranging from 3 to 8 metre. This makes the mine suitable for high-production open-cut mining. In addition, the Alpha West Coal project is currently under exploration and can contain further accessible resources.
The Kevin’s Corner Coal Mines
The Kevin's Corner Project is a recognized thermal coal deposit within the Galilee Basin, Queensland, Australia. This deposit contains very large resources of thermal coal and is adjacent to the Alpha Coal Project.
GVK has been awarded the prestigious awards, namely “Asia Deal of the Year” and “Asia Outbound Investor of the Year” at the 8th annual Asia Mining Congress 2012 held in Singapore for its acquisition of the Hancock Coal Mines in Australia.