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CIL signs MoUs with Russia for Coking Coal

Coal News - Published on Fri, 06 Sep 2019

Image Source: thelivenagpur.com
ET reported that state-owned miner Coal India Ltd has signed MOUs with two Russian entities in the areas of coking coal mining in the Russian Far East and the Arctic Region. Coal India signed the first MoU with Far Eastern Agency for Attracting Investments and Supporting Exports, an autonomous non-profit organization in Russia, for cooperating in their activities for mining coking coal in the Russian Far East and Arctic Region. The second MoU was signed between Coal India and Eastern Mining Company of Russian Federation for exploring, identifying, sourcing, negotiating and consummating mutually beneficial investment opportunities in the mining sector in the Russian Far East.

The MoUs were signed by Coal India chairman, Mr AK Jha and Mr Leonid Gennadievich Petukhov, director general of FEAAISE and a senior executive at FEMC.

For the last several months Coal India has been looking at acquiring coking coal assets in Russia, Canada and Australia. In fact, it has recently identified four potential coking and semi-coking coal assets, two each in Australia and Canada, for due diligence. It may acquire minority stake in each of these assets to start with, which may be gradually increased, based on its experience.

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Posted By : Rabi Wangkhem on Fri, 06 Sep 2019
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