India Seeks Coal

Coal Investing News reports India is seeking coal and is on a buying spree.

Coal India, the world’s biggest coal miner, aims to import 50 million tonnes of thermal coal a year from Australia, Indonesia and Mozambique from 2016-17 to cover a forecast increase in demand for power, chairman Partha Bhattacharya said.

India imports Australian coking coal for its steel mills, but it takes only a fraction of Australia’s 130 million tonnes a year of thermal coal exports.

Hancock, which is in the early stages of studies to build two large-scale Queensland thermal coalmines, and Rio, are understood to be among a number of Australian miners that have submitted expressions of interest to sell stakes in mines and projects to Coal India.

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