Coal India to acquire coal blocks in South Africa

EBR Staff Writer Published 09 January 2012

India based Coal India (CIL) is expected to sign an agreement with the provincial government for coal mining rights located in the province of Limpopo, South Africa.

CIL will acquire coal blocks which can be developed in future in partnership with the government of Limpopo.

The provincial government of Limpopo will retain a 26% interest in the mines, which may later be devolved to black empowerment partners for CIL.

The devolvement will comply with the requirements of the South Africa's mining charter, reports South African news agency Sake24.

The company has already received a draft agreement from the Limpopo government, which must be approved by CIL's board.

CIL produces more than 80% of India's coal and operates around 500 coal mines in India.

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Source: http://coal.energy-business-review.com/news/coal-india-to-acquire-coal-blocks-in-south-africa-090112

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