State-owned firm Coal India (CIL) is reportedly looking at acquiring assets abroad and eyeing assets in SAARC (South Asian Association for Regional Cooperation) and in other areas. The company is currently exploring options in Indonesia, South Africa and Australia.
While it is in talks with the Indonesian government, it has already signed a memorandum of understanding (MoU) with the South African government for acquisition of mines. The company has already surrendered licences in Mozambique and has requested the government there to give alternative area.
Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.
