Griffin Coal
Griffin Coal Mine is a large mine in the town of Collie in Western Australia, producing about 5 mn tons of coal annually.
In January 2011, the firm defaulted on debts of A$475 mn, and sought outside buyers. Two months later, it was acquired by the Indian firm Lanco Infratech for A$730 mn.
The logic of the purchase has been questioned in the business media, as the company has faced difficulties and has been forced to defer pension and other payments to suppliers.
The mine was in operation in the 1930s and was a supplier of coal to the Western Australian Government Railways, in competition with Newcastle Coal.
