Coal India seeks go-ahead for Indonesian stake purchase

The world’s largest coal miner, Coal India, is planning to buy a 30 per cent stake in a coal asset in Indonesia.

However, it must first win approval from the Indian government before it can go ahead.

Reuters quotes sources as saying that Coal India has been in advanced talks with Indonesia-based Golden Energy Mines in relation to the deal, which could be worth as much as $1 billion.

Coal India’s chairman, N C Jha, confirmed that the company was seeking guidance on whether the deal can go ahead, although he did not go as far as disclosing any further details of the proposed investment.

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