GVK gives Oz contract to Thiess
Hyderabad: GVK Group , which developing the $10 billion Alpha coal mine in Galilee basin in Australia, has awarded mine operations contract to mining...
Hyderabad: GVK Group , which developing the $10 billion Alpha coal mine in Galilee basin in Australia, has awarded mine operations contract to mining services firm Thiess which will prepare a 10-year mine plan and budget for the project. The technical, engineering and plant expertise of Australia-based Thiess will be applied to develop the operational strategy and management plans, ensuring the thermal coal mine is a world-class, cost competitive operations. The team is expected to finalise the operational strategy, mine planning and management plan by the end of the year, GVK Group said in a release. "We are delighted to have Thiess on board to help deliver the next phase in Alpha's operational development. It is our endeavour to take innovation to another level and embed industry leading technology and best practice from the early planning stages," said Dr GVK Reddy, founder Chairman and Managing Director, GVK. Alpha Coal Mine is located in the Galilee Basin with the first coal to be extracted by 2016. When fully commissioned, the mine will produce 32 million tonnes of coal per year. In September 2011, GVK had acquired 79 per cent equity stake each in Alpha Coal and Alpha West Coal Mines and 100 per cent equity stake in Kevin's Corner Coal Mines, located in Queensland, Australia from Hancock Coal Pty Ltd for $1.26 billion. These mines have reserves of about 8 billion tonne and a capacity of more than 60 million tonne per annum. When combined, these projects will create one of the largest thermal coal mining operations in the world. GVK had acquired 100 per cent stake in a 500 km rail link and 60 million tonne per annum port as part of the pit-to-port logistics solution. "Thiess is excited to extend its working relationship with GVK to deliver the next phase in Alpha's operational development. The next six months are a critical time for Thiess and GVK Hancock to work together to reinvigorate Australia's position as the world leader in safe and highly productive operations," said Bruce Munro, Managing Director, Thiess.