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Coal India to form JVC with US-based coal firm

17 May 2011 Evaluate

Coal India (CIL), the world’s largest coal miner is in talk to form a joint venture company (JVC) with US-based coal firm Peabody Energy to begin the project - Wilkie Creek coal mine, in Queensland in Australia, owned by the Peabody.

The US-based firm will have 85% holding in the JVC, while the rest will be owned by the Coal India.

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

Coal India registered a growth of 24.24% in its net profit for the year under review at Rs 4696.10 crore as compared to Rs 3779.92 crore for the last year. Its total income increased by 19.69% at Rs 5498.01 crore for the year from Rs 4593.44 crore in previous year.

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
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