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CORR - INDIA'S GUJ NRE BUYS 49% IN AUSTRALIAN MINER PLOUTON.
(Corrects investment figure in second paragraph)
NEW DELHI, Nov 1 Asia Pulse - Gujarat NRE Coke Limited (GNCL) (NSI:GUJNRECOK) on Monday said its subsidiary Gujarat NRE FCGL Pvt Ltd (FCGL) has acquired 49 per cent equity in Australia's Plouton Resources Pvt Ltd to explore gold, uranium, copper, iron ore and coal.
FCGL has made an initial investment of US$50,000 besides investing Rs 1.22 billion (US$27 million) for setting up 20 Wind Turbine Generators (WTG) for windfarms in Gujarat's Kutch.
"Funds invested would be directed to working capital needs, specifically to evaluate and secure various exploration licences and exploratory work in New South Wales, targeting gold, copper, iron ore and possibly uranium ...
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