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.
