Coal and power minister Piyush Goyal had earlier in the month informed Parliament that CIL is looking at entering into a pact with a South African government miner to jointly acquire coal mines in that country. Photo: Ramesh Pathania/MintNew Delhi: Coal India’s board has approved signing of a pact with African Exploration Mining & Finance Corporation SOC Ltd (AEMFC), owned by the South African government, for acquisition of coal mines in that country. Coal and power minister Piyush Goyal had earlier in the month informed Parliament that CIL is looking at entering into a pact with a South African government miner to jointly acquire coal mines in that country. It had executed an MoU in 2011 with entities owned by provisional government of Limpopo, South Africa, for acquiring coal assets in that province, the minister had said. CIL, which accounts for over 80% of the domestic coal production, is eyeing one billion tonnes of output by 2020.

Source: Mint August 28, 2016 17:15 UTC