Original article by James Thomson
The Australian Financial Review – Page: 14 : 3-Jan-18
Sanjeev Gupta’s GFG Alliance has acquired Glencore’s Tahmoor coal mine in New South Wales for an undisclosed sum, although the mine’s value is reckoned to be around $A500 million. Coal from the mine will support Gupta’s steelmaking operations in South Australia, with Gupta having acquired the assets of failed steelmaker Arrium, including its Whyalla steelworks, in August 2017. Tahmoor produces around two million tonnes of coal per annum, most of which is used for steelmaking.
GFG ALLIANCE, GLENCORE AUSTRALIA PTY LTD, YANCOAL AUSTRALIA LIMITED – ASX YAL, RIO TINTO LIMITED – ASX RIO, COAL AND ALLIED INDUSTRIES LIMITED, LIBERTY HOUSE GROUP, SIMEC, ZEN ENERGY PTY LTD