Centre prioritises coking coal contracts over foreign mine purchases

Company may at best consider picking up stakes in coking coal companies instead of going for an outright purchase

The government’s priority in securing coking coal assets abroad has changed, as the coal ministry is now targeting to first get contracts for coking coal import at competitive prices instead of its earlier plan to go for outright purchase of coal mines.

Union coal minister Pralhad Joshi said on the sidelines of the 8th Asian Mining Congress and Exhibition, “As of now, the thinking is not to acquire assets and only to freeze orders in advance to get coal at competitive prices. The thought process is going on, and as of now we are not thinking of acquiring any assets.”

Coal India