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INDIA Fri 25/01/2008 Byrnecut ahead of Oxiana, Anglo at Banwas By Richard Roberts, 14 January 2008
http://www.highgrade.net/article/2008-01-14/Byrnecut_ahead_of_Oxiana,_Anglo_at_Banwas
AUSTRALIAN mining contractor Byrnecut Mining has emerged as the frontrunner in a bid to be involved with Hindustan Copper in redevelopment of the Banwas copper mine in Rajasthan�s Jhunjhunu district, pipping Oxiana, Anglo American, Lundin Mining and India Resources.
Hindustan Copper previously reported Banwas had �ore reserves of over 22.5 million tonnes grading 1.6% copper�.
�The mine is expected to be ready in about 18 months� time,� the company said in the second half of last year. �The operation is planned to be implemented through partnership with an outside agency [which] will bring in necessary investments. As the first step, five mining companies have been shortlisted. When fully operational the mine will contribute 10,000t of metal in concentrate per annum.�
Byrnecut is understood to have been informally advised by Hindustan that it has made the best bid to mine Banwas in a joint venture with the Indian company, though it was awaiting confirmation at the end of last week of the terms of the deal.
Managing director Steve Coughlan could not comment on specifics of Byrnecut�s proposal. �We�re aware that ours was the best bid, as you put it, but I haven�t had any confirmation of where it goes from there yet,� he said.
�We think there�s some potential there subject to various criteria being met and we�re working our way through those in pre-planning if you like while waiting for formal advice on whether they want to proceed with us or not.�
Asked if India � not included on Byrnecut�s list of priority international business development targets during an interview with HighGrade last year � offered expansion potential, Coughlan said the company was invited to participate in the Banwas bidding process and did not at this stage have a broader India strategy.
�In principle we�d look at every case in isolation, not in a general sense. It depends on a whole range of factors,� he said.
Byrnecut was established in Kalgoorlie, Western Australia, 20 years ago and is still partly owned by the original management team. It is majority-owned by Germany�s Thyssen group. The specialised underground mining contractor generated 2007 revenues of about $A550 million. In recent years it has recorded strong offshore growth, particularly in Africa, Europe and central Asia.
http://www.highgrade.net/article/2008-01-14/Byrnecut_ahead_of_Oxiana,_Anglo_at_Banwas
AUSTRALIAN mining contractor Byrnecut Mining has emerged as the frontrunner in a bid to be involved with Hindustan Copper in redevelopment of the Banwas copper mine in Rajasthan�s Jhunjhunu district, pipping Oxiana, Anglo American, Lundin Mining and India Resources.
Hindustan Copper previously reported Banwas had �ore reserves of over 22.5 million tonnes grading 1.6% copper�.
�The mine is expected to be ready in about 18 months� time,� the company said in the second half of last year. �The operation is planned to be implemented through partnership with an outside agency [which] will bring in necessary investments. As the first step, five mining companies have been shortlisted. When fully operational the mine will contribute 10,000t of metal in concentrate per annum.�
Byrnecut is understood to have been informally advised by Hindustan that it has made the best bid to mine Banwas in a joint venture with the Indian company, though it was awaiting confirmation at the end of last week of the terms of the deal.
Managing director Steve Coughlan could not comment on specifics of Byrnecut�s proposal. �We�re aware that ours was the best bid, as you put it, but I haven�t had any confirmation of where it goes from there yet,� he said.
�We think there�s some potential there subject to various criteria being met and we�re working our way through those in pre-planning if you like while waiting for formal advice on whether they want to proceed with us or not.�
Asked if India � not included on Byrnecut�s list of priority international business development targets during an interview with HighGrade last year � offered expansion potential, Coughlan said the company was invited to participate in the Banwas bidding process and did not at this stage have a broader India strategy.
�In principle we�d look at every case in isolation, not in a general sense. It depends on a whole range of factors,� he said.
Byrnecut was established in Kalgoorlie, Western Australia, 20 years ago and is still partly owned by the original management team. It is majority-owned by Germany�s Thyssen group. The specialised underground mining contractor generated 2007 revenues of about $A550 million. In recent years it has recorded strong offshore growth, particularly in Africa, Europe and central Asia.
in any company run by MK.
TTY have taken a 5.29% stake.
