World’s largest coal miner, Coal India (CIL) has established a sub-committee to monitor the proposals with regard to foreign investments. Last month, the entity had invited merchant bankers to assist it in its venture of investing in prospective coal business opportunities overseas. It has taken this decision, considering Parliamentary Panel’s move of pulling the Maharatna PSU for making no headway in acquisition of coal resources abroad.
Further, the company has proposed an ad-hoc provision of Rs 35,000 crore for acquisition and development of mines abroad by 2017. Out of this, Rs 25,000 crore has been kept for acquisition and development of coal blocks in other countries like South Africa, Indonesia, Australia, USA, Columbia. The balance Rs 10,000 crore has been allocated for exploration and development of two allotted coal blocks in Mozambique during the 12th Five-Year Plan.
| Company Name | CMP |
|---|---|
| Coal India | 434.75 |
| NMDC | 84.40 |
| GMDC | 610.65 |
| Sandur Manganese | 207.10 |
| MOIL | 278.05 |
| View more.. | |
Start Research-backed Investing ...Now. Subscribe to Sapphire
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.
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.
MoneyWorks4Me ensures this through: