Coal India plans to pick up 20-30% stake in Australian coal mining firm

Coal India is in talks with an Australian coal mining company to pick up a stake in the range of 20-30 per cent. If the deal materialises, it will ensure a steady supply of coking coal to Indian steel and allied companies.

The country’s coal giant plans to set up an office in Brisbane this year and the pact will mark its second foray into foreign shores, the first being in Mozambique way back in 2009. “We are in talks with a mining company in Australia and some progress has been made. But we are also keeping our options open to