Coal India Said to Consider Bid for Massey Energy Mine

Bloomberg.com reports that Coal India is looking to purchase its’ first mine in the U.S, a deposit owned by Massey Energy Co.

The story is quoted as saying:

Mines overseas would help Coal India meet demand from power stations and steel mills that’s rising faster than production in Asia’s second-biggest energy-consuming nation. Coal India, which had 380.5 billion rupees ($8.7 billion) of cash and bank deposits as of June, has set aside 60 billion rupees for acquisitions this financial year.

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