CIL Closing Mine Deals in Australia PDF Print E-mail
Thursday, 18 February 2010 15:46

India is stepping up its program to invest in Australian thermal coal mines, with state-owned Coal India Ltd. (CIL) angling to finalize a deal in the next six months, The Australian reported. CIL is planning to access between 15 and 20 mines in Australia, Indonesia and the United States, through six investment proposals. In July, the company called for expressions of interest from potential coal mining partners to cater to unprecedented growth in local demand. Under its 11th five-year development plan, India aims to provide all villages and houses below the poverty line with power and to boost economic growth to 10% by 2011-2012. Coal India wants to import 50 million metric tons of thermal coal a year from the new mines.