State-owned Coal India (CIL) has sought approval from the Coal Ministry to acquire an unlisted entity of a listed overseas firm. CIL is awaiting government's comeback on certain issues pertaining to its plan of picking up a 15% stake in the US-based firm Peabody Energy in early 2011-12 for an estimated $100 million intended for its mining project in Australia.
To employ the project at Peabody-owned Wilkie Creek coal mine, in Queensland, Australia both the companies are considering a joint venture company. The US-based firm is likely to hold 85% in the JV. The Coal Ministry had earlier said that acquisition of the property in the overseas market will be confined to listed companies.
Peabody Energy is the world's largest private sector coal company, with sales of 246 million tonne in 2010. The company claims to have 9 billion tonnes of reserves and manages and owns interest in 28 mining operations in the US and Australia.
| Company Name | CMP |
|---|---|
| Coal India | 438.70 |
| NMDC | 89.78 |
| GMDC | 733.40 |
| Sandur Manganese | 218.35 |
| MOIL | 327.60 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: