Coal India now digs the world for mines

NEW DELHI: After oil expedition, it’s time for a global coal hunt. The government has decided to acquire coal mines in Zimbabwe, Mozambique, Australia, Indonesia and South Africa to secure India’s energy needs.

“A dedicated group, headed by coal secretary, has been constituted in the ministry of coal to plan for investments in coal mines acquisitions abroad including Zimbabwe, Mozambique, Australia and Indonesia,” a source said
A joint working group on coal has also been set up between India and the United States (US). The purpose of the group is to identify areas of co-operation between the two countries including forging alliances between companies of both the countries for joint development of mines. Overseas acquisitions of coal properties is important for the coal sector as India is already facing a demand-supply mismatch. In 2005-06, the domestic coal production was 407 million tonnes while imports were to the tune of 35 million tonnes. Planning Commission estimates that demand-supply gap of coal will still stand at a whopping 60 million tonne by 2011-2012.

India Times