[miningmx.com] — INDIA’S International Coal Ventures consortium is looking to acquire overseas coal assets, a top official at one of the member companies said on Thursday, to meet rising demand for the key raw material in Asia’s third-largest economy.
“There are a number of properties ICVL is looking at in countries such as Australia, the US and Indonesia,” P.K.Bishnoi, chairperson and managing director of steelmaker Rashtriya Ispat Nigam Ltd, told reporters on the sidelines of an industry conference.
The state consortium comprises of utility NTPC, Steel Authority of India Ltd, iron ore miner NMDC, Coal India and Rashtriya Ispat Nigam.
Last month, it decided not to counter Rio Tinto’s $3.9bn bid for Mozambican coal miner Riversdale
