Indian firms to buy coal, iron assets: E&Y report

Indian companies are likely to focus on acquiring coal and iron ore assets in the mining space this year, especially in Indonesia, Australia and Africa, global consultancy Ernst & Young (E&Y) said in a recent report. "We expect that coal and iron ore are likely to remain the focus of mining M&A during 2012, although other commodities including copper and zinc will also be targeted. Indian companies are likely to continue looking to Indonesia, Australia and Africa for growth, increasingly opting to acquire outright rather than simply through off-take agreements," the report said.