TAHMOOR MINE BID
Acquisitive Liberty in race for Glencore mine
Liberty House’s GFG Alliance joint venture submitted an indicative offer for the Tahmoor mine by the June deadline, say sources
Melbourne/Hong Kong — Liberty House Group, fresh off a deal for Australian steel mill Arrium, is among bidders for a Glencore coal mine that could fetch as much as A$500m ($380m), according to people with knowledge of the matter. Liberty House’s GFG Alliance joint venture submitted an indicative offer for the Tahmoor mine by the June deadline, said sources, who asked not to be identified because the information is private. It was among parties invited by Glencore to evaluate detailed information on the underground metallurgical coal mine ahead of second-round bids, they said. GFG Alliance, led by Sanjeev Gupta, planned to investigate the use of output from Tahmoor to feed its newly acquired steel plant in South Australia state, one of the people said. Last week, the venture agreed to buy the assets of Arrium out of administration, including the Whyalla steel works, port and rail infrastructure and shuttered iron-ore mines. GFG Alliance said in February it would buy Tata Steel’s spec...