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Coal India to acquire coal mines in Australia

10 Jun 2013 Evaluate

Coal India (CIL) is likely to acquire coal mines in Australia and its board-level committee will decide the way ahead on acquisition proposals in Australia. The entity has recently entered into non-disclosure agreements with two Australian coal companies for due diligence of a number of thermal coal assets. Indian miner was negotiating with a British-American mining major to acquire a partly explored asset in the Surat basin in Queensland.

The company, on consolidated basis, has reported 34.90% jump in its net profit after taxes, minority interest and share of associates at Rs 5413.91 crore in Q4FY13 as compared to net profit of Rs 4013.41 crore in the same quarter previous year. Total income from operation of the company has increased marginally by 1.78% to Rs 22111.07 crore as compared to Rs 21724.99 crore in corresponding quarter last year.

Peers
Company Name CMP
Coal India 411.85
NMDC 74.30
Ashapura Minechem 503.65
Sandur Manganese 183.15
GMDC 491.85
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