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Coal India looking to buy metal mines abroad

Reuters  |  NEW DELHI 

By Sudarshan VaradhanNEW DELHI (Reuters) - Coal India Ltd, the world's largest coal miner, has held internal talks to discuss buying metal mines abroad amid faltering revenues and rising employee costs, potentially signaling a strategy shift to cut reliance on the fossil fuel.The state-run company plans to form two units: one to manage its local mining of iron ore, bauxite and maganese, and another to expand into copper and nickel mining overseas, two company officials involved in the planning told Reuters."The plans of Coal India to enter into metal mining business both in India and abroad ...

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First Published: Fri, September 29 2017. 17:04 IST