Business OpportunitiesCIL eyeing partnership with global cos like BHP, Rio
State-run Coal India is eyeing strategic partnership with mining behemoths like BHP Billiton and Rio Tinto to mine coal abroad and has floated an Expression of Interest (EoI) for the same.
- CIL may develop coal assets with Australian mining firms - Rio Tinto signs legal services outsourcing deal with CPA Global - BHP agrees to cut 2009 coking coal prices about 58 per cent - Nippon close to signing iron ore pact - CIL plans import cell for non-coking coal - CIL-NTPC to sign fuel supply pact by month-end
"We are eyeing partnership with global mining firms like Rio Tinto and BHP Billiton to mine coal in a joint venture format in four countries — South Africa, Indonesia, Australia and US," CIL Chairman P S Bhattacharya told reporters here.
The JVs would be formed by Coal India and not its arm Coal Videsh, he clarified.
When asked about funds for such ventures, Bhattacharya said, "We are sitting on cash reserves of Rs 30,000 crore."
When asked about the extent of hike in coal prices the company is seeking from its ministry, he said it is marginal.