Friday, November 12, 2010
India Looking To Buy US Coal Mines
WEST VIRGINIA...
The chairman of state-run Coal India, the world’s largest coal producer, says that the company is in talks to acquire mines from two U.S. companies, Peabody Energy Corp. and Massey Energy Co.
Coal India says the companies expressed interest in offering certain mines, but officials declined to discuss details of where the mines are located or what the deal value might be.
Coal India has budgeted $1.2 billion to buy assets in the U.S., Indonesia and Australia during the year ending March as it battles a widening gap between domestic coal supply and demand.
St. Louis-based Peabody Energy says it is the world’s largest private sector coal company. Richmond, Va.-based Massey Energy says it is the largest coal producer in the Central Appalachian region.
Coal India says the companies expressed interest in offering certain mines, but officials declined to discuss details of where the mines are located or what the deal value might be.
Coal India has budgeted $1.2 billion to buy assets in the U.S., Indonesia and Australia during the year ending March as it battles a widening gap between domestic coal supply and demand.
St. Louis-based Peabody Energy says it is the world’s largest private sector coal company. Richmond, Va.-based Massey Energy says it is the largest coal producer in the Central Appalachian region.
# posted by Homer Owens @ 10:20 AM 
