Wollongong Coal Limited (“WCL”) is an Australian mining company, which owns and operates Russel Vale Colliery (RVC) and Wongawilli Colliery (WWC) in the Southern Coalfields Region of New South Wales, Australia. In October 2013, JSPML acquired a majority stake and management control in Wollongong Coal Limited (formerly Gujarat NRE Coking Coal Ltd or GNCCL), a company registered in Australia and incorporated in October 2004 by Gujarat NRE Coke Limited (GNCL). The shareholding in the Company has increased since then by way of a rights issue. Currently, JSP holds 60.38% stake in WCL through its subsidiary, JSPML. Both mines are near the Port Kembla Coal Terminal (PKCT) with RVC connected via road and WWC connected via rail. PKCT is privately owned and operated by six stakeholders, including WCL.
- Both mines under WCL i.e. RVC and WWC have been under care and maintenance in FY2020.
- WCL and Jindal Steel and Power (Australia) Pty Ltd entered into a Scheme of Arrangement (‘Scheme’) with its secured creditors to restructure its long-term debt. The Scheme was approved by the Supreme Court of New South Wales and the restructured facilities became effective from 5th May 2020.
- The Company is focused on obtaining the mining approvals for RVC and is also in the process of preparing for long-term approvals for further mining in the WWC.
- The Company is also looking to monetize its non-mining land parcels in WWC and the mandate for the same has been given to CBRE.