Coal India eyeing stake in overseas mines

The Coal India is exploring potential avenues for buying stakes in coking coal blocks overseas. Coal Minister Piyush Goyal said, “CIL (Coal India) is pursuing available opportunities for buying equity stakes in coking coal mines abroad.”

He said though the CIL Board had last year advised the company to explore the opportunities of acquiring coal assets overseas, very few prospective blocks in foreign nations have come up for sale. Goyal said Indian consumers import metallurgical coal mainly from Australia.