Coal India Ltd
This is a discussion on Coal India Ltd within the Investment forums, part of the Financial Services category; Coal India Ltd (CIL) is eyeing mines in South Africa and Indonesia through its subsidiary Coal Videsh Ltd, CIL chairman ...
- 08-25-2010, 10:16 AM #1Unregistered Guest
Coal India Ltd
Coal India Ltd (CIL) is eyeing mines in South Africa and Indonesia through its subsidiary Coal Videsh Ltd, CIL chairman Shashi Kumar said here Friday.
"We are looking for mines in South Africa and Indonesia through Coal Videsh," Shashi Kumar told reporters on the sidelines of a seminar organised by the Mining, Geological and Metallurgical Institute of India.
"We will be going for 100 percent acquisition of mines for mining and mine development activities. As of now, we are going it alone, but participation from ONGC (Oil and Natural Gas Corp) is welcome," Kumar said.
The CIL chairman also said the PSU had backed out of a Mozambique project after Steel Authority of India (SAIL) abstained from buying mines there.
"We are also expecting the Shankar committee report for CIL restructuring mid-June," he said.
"The current coal imports of the country stand at 12-13 million tonnes and we expect to get two-three million tonnes from mines in Indonesia," he said.
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