ArcelorMittal and Rio in race for CIL abandoned coal mines
Wednesday, 01 Jul 2009
Reuters reported that State owned Coal India has shortlisted top steel maker ArcelorMittal and Australia's Rio Tinto along with 8 other companies to develop 18 abandoned coal mines.
As per report, Indian firms GVK Power & Infrastructure, Essar Mineral Resources and JSW Steel also feature among the companies shortlisted.
The report said that these companies would form a JV with Coal India for developing these mines, which have estimated reserves of more than 1.6 billion tonnes. The tendering process for the revival and development of these abandoned mines is scheduled to be completed by the end of this fiscal year.
