Lanco Infra subsidiary to buy Griffin Coal;stk up

MUMBAI: Lanco Infratech’s subsidiary Lanco Resources Australia has agreed to acquire Griffin Coal Mining Co and Carpenter Mine Management (Griffin Coal).

Griffin Coal owns the largest operational thermal coal mines in Western Australia. The mine currently produces over 4 mtpa of coal and can be ramped up to over 15 mtpa in the near term, post development of evacuation infrastructure.

The stock was at Rs 62.70, up Rs 1.70 or 2.79 per cent on the BSE. It touched a high of Rs 65 and low of Rs 62.10 in trade so far.