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Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
 Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received offers to buy properties of mining giants Rio Tinto and Hancock in Australia.
Sources close to the development said Rio Tinto and Hancock are considering selling stakes in some thermal coal assets to Coal India. Hancock and Rio are understood to be among a number of Australian miners that have submitted expressions of interest to sell stakes in mines and projects to CIL.
CIL officials refused to divulge details citing confidentiality issues. “We have had a good response from Australia — better than what we had expected,” an official said. Incidentally, CIL has been made a total of 54 offers for acquiring mining assets in Australia, United States, Indonesia and South Africa.
“A team led by coal minister Shriprakash Jaiswal and CIL chairman & MD Partha S Bhattacharyya, along with Coal Videsh officials, was in Australia last week to look for mining assets,” sources said. CIL is setting up an expert committee to evaluate offers for overseas assets, they added.
“There will be a seven-member committee comprising Coal Videsh and other officials. It will be formed in the next 2-3 days. It will submit the report by March. It is not very easy to identify 7-8 mines from 54 offers,” sources said.
Source: Times of India
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Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
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- Grasim Industreis Ltd - India
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- Iligan Light & Power Inc, Philippines
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