Coal India Limited looking at coal asset acquisitions in Australia

State run miner Coal India Limited (CIL) has identified coking coal and high-grade thermal coal assets in Australia for strategic investments and will be appointing merchant bankers to conduct financial due diligence of these targeted acquisitions. CIL is looking at picking up equity stakes in coking coal and high-grade coking coal assets with enabling provisions of assured offtake of part of the production from the acquired assets for shipment back to India.