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Gupta’s GFG Alliance to Acquire Glencore Coal Mine in Australia

CoalMine

04/01/2018

Bloomberg

GFG Alliance, the acquisitive group led by U.K. businessman Sanjeev Gupta, agreed to purchase an Australian coal mine from Glencore Plc to feed its steel operations in the country. London-based GFG signed a binding agreement to buy Glencore’s Tahmoor underground mining operation in New South Wales state, it said in an emailed statement Tuesday. The deal is a key element in GFG’s plan to optimize and expand production at its Whyalla steel works in South Australia, according to the statement, which didn’t provide financial details.

 

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