Coal India eyes assets in Indonesia

After eyeing South Africa for coal blocks through a foreign joint venture, state-owned miner Coal India has now set its sights on Indonesian coal and is considering to enter that country, according to a local report.

The project, which will be a government-to-government deal, will be executed by Coal India?s subsidiary, Coal Videsh, with Indonesia?s state-owned miner. ?We are in touch with the government-owned company in Indonesia,? Chairman of Coal India Sutirtha Bhattacharya said after the company?s annual general meeting as quoted by business-standard.com on Wednesday.

Access to Indonesian assets will help Coal India get coal from there as Coal India has its own produce. This will reduce India?s coal import amount. India is a key market for Indonesian coal. Data from the commerce ministry showed India imported 23.40 million tons (mt) during April-June.

Coal India is also looking at Australia. ?We are also keen over collaborations in Australia as well,? Bhattacharya said.

In South Africa, Coal India is keen to partner with the South African government-controlled African Exploration Mining and Corporation to float a joint venture that will collaborate in identification, acquisition, exploration, development and operation of assets. (*)