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In August 2011, it was reported that Hancock Prospecting is in negotiations with Indian company GVK to sell Hancock's holdings in the Galilee Basin - about 400km inland of Mackay, Australia - for $2 billion. In mid-September 2011 GVK announced that, via subsidiaries, it had entered into agreements with Hancock Prospecting to buy 79% of Hancock Coal's Alpha Coal Project, the Alpha West coal project and all of the Kevin's Corner Coal Project and Hancock's interest in "the rail and port project connecting the above coal projects to the port of Abbot Point and Abbot Point T3 expansion project".
Subsidiaries of Hancock Prospecting include:
- Hancock Coal, which owns the Alpha Coal Project; and
- Hancock Galilee, the owner of the Kevin's Corner Project.
- Cheryl Edwardes, Executive General Manager- External Affairs, Government Relations and Approvals
28-42 Ventnor Avenue
Western Australia 6005
P.O. Locked Bag No. 2
West Perth WA 6872
Telephone +61 8 9429 8222
Fax +61 8 9429 8266
Email: mail AT hancockprospecting.com.au
Articles and resources
- Hancock Prospecting, "Company Overview", Hancock Prospecting website, accessed July 2010.
- Andrew Fraser, "From pit to port: India's $10bn coal export plan" The Australian National Affairs, August 20, 2011.
- GVK, "GVK acquires Hancock Coal and Infrastructure Projects in Australia", Media Release, September 16, 2011.
- Hancock Coal, "Hancock’s Galilee Coal Basin Projects – 'The Galilee is now open for business'", Hancock Coal & Hancock Galilee, March 2011, page 2. (Pdf)