Coal India (CIL), the world's largest coal miner plans to make a provision of Rs 2,500 crore this fiscal year for a likely wage increase. Wage negotiations are currently underway but the company will make a provision in the remaining three quarters of the year.
Recently, Coal India is eyeing at one acquisition each in Indonesia, Australia and the US. The likely size of each deal will be below Rs 1,000 crore, around $223.5 million and the company for this fiscal year has set aside Rs 6,000 crore for acquisitions. Presently, Coal India has been in advanced talks with Indonesia's Golden Energy Mines to buy stake in its assets in a deal that could be worth as much as $1 billion.
