SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

CIL may form JV with USA's Peabody for USD 600 mn mining project

17 May 2011 Evaluate

Coal India is in negotiations to pick 15 per cent stake in a joint venture with US-based coal firm Peabody Energy's USD 600 million mining project in Australia. Both the companies are mulling to form a joint venture company (JVC) to begin the project - Wilkie Creek coal mine, in Queensland, Australia, owned by the Peabody. The US-based firm will have 85 per cent holding in the JVC, while the rest will be owned by the Maharatna firm. The joint venture firm in which Coal India will have 15 per cent stake will operate Wilkie Creek Mine. The proposal also came up for discussion in the Coal India Board meeting on May 14 and it was decided to refer the same to the Coal Ministry for certain clarifications.

The Coal Ministry had earlier said that acquisition of the property in the overseas market will be confined to listed companies so that there is not much problem during the valuation of the deal.  Peabody Energy is the world's largest private sector coal company, with sales of 246 million tonnes (MT) 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.

Apart from Peabody, the company is also negotiating with US firm Massey Energy and Indonesian Novem/Sinarma for a possible partnership on their respective mining projects in the US and Indonesia.

crackcrack

Coal India Share Price

438.70 5.80 (1.34%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Coal India 438.70
NMDC 89.78
GMDC 733.40
Sandur Manganese 218.35
MOIL 327.60
View more..

About MoneyWorks4Me

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.

Our Vision

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.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×