|
Gujarat NRE Coking Coal Limited (ASX Code GNM) announce that it has achieved a production target of over 10,000 tonnes of coal mined in a single day at is NRE Wongawilli Colliery on 31st August 2010.
This milestone production record reflects our key operating objective of delivering consistent, predictable and sustainable operating performance across our mines. In line with our strategy, we have grown our business rapidly and consistently through the development and acquisition of high quality coking coal resources in the Illawarra region of NSW. GNM acquired NRE Wongawilli Colliery from BHP Billiton on December of 207. The Company started production from NRE Wongawilli in February 2008 and successfully commissioned longwall mining in August 2009. It started coal extraction from Longwall Block 11 in February 2010 and on 31st August achieved the strategic production breakthrough of producing over 10,000 tonnes of coal from this block in a single day. With the proposed commissioning of longwall mining at the other operating mine of the Company- NRE No 1 Colliery in late 2011, for which the Company has already entered into a contract with Joy, and the proposed up grade of the longwall system at NRE Wongawilli in FY 2014, the Company is well on track of achieving is targeted production level of 6 mtpa from both is mines by FY 2015. Commenting on the development, Mr. Arun Kumar Jagatramka, Chairman of the Company stated that „it demonstrates our capability to use the true potential of the mine and effectively meet future targets.“ With coking coal benchmarks currently well over the FY 2010 level, the increased production bodes well for the Company as it is set to experience significant revenue growth. |
