Former Griffin Coal owner claims Australian mines back from Lanco

Adding woes to Lanco Infratech embroiled in a legal battle with Perdaman Industries over coal supgranite and marble and lime stone mining saw machinesply issues in Australia, Mr Ric Stowe - the former owner of Griffin Coal - is now claiming the mines back saying that current owner Lanco did not stick to its development plans.

Lanco Infratech, through its step down Australian subsidiary, Lanco Resources Australia, took over Griffin Coal Mining Company and Carpenter Mine Management (Griffin Coal) in March last year. Mr Stowe, in a claim lodged with Western Australian Mining Warden’s Court, asked for exploration and mining rights for land containing huge coal reserves that are part of Lanco’s expansion plans. He is claiming that the Indian infra giant, as required under the state laws, has not spent enough money on exploration and developing the tenements. When contacted, a senior Lanco Group official said they will be presenting their version to the Warder’s court. According to Lanco Infratech CEO (Business Development) Mr Nagaprasad Kandimalla, they received a notice from...