Coal India Ltd.

Coal India (CIL) is planning to form a majority joint venture (JV) with the provincial government of Limpopo in South Africa for acquiring coal assets overseas. Mining contributes nearly a fifth of the domestic product of Limpopo, located on the northern most tip of South Africa. However, the company’s board as of now sought clarifications on draft agreement with the Limpopo government on responsibilities to be shared between them while acquiring mines through a JV. The provincial government may help the joint venture to secure coal assets in South Africa. The company in its board meeting held on March 25, 2013, decided the same.

Further the coal behemoth has also selected on three unlisted overseas coal assets for acquisition. CIL has built up a war-chest of Rs 35,000 crore for the acquisition of coal assets abroad during the current Five Year Plan period (2012-17).