Coal India eyes mining blocks in South Africa
(Minews) - India is exploring coal deposits in South Africa and seeking out new, safer technology for mining and quarrying.
State-owned miner Coal India Limited (CIL) signed an agreement with South Africa's Department of Trade and Industry (DTI) to explore "mutual prospects" in the African country's coal and mining industry value chain.
"Coal India has been mapping the South African coal mining industry, with the interest of acquiring mining concessions and information on how best to exploit coal deposits in a way that serves the best interest of all stakeholders," the DTI said in a statement.
The agreement was reached after a meeting between Coal India representatives and DTI officials on the sidelines of the African Mining Indaba in Cape Town Thursday.
CIL is foraying into foreign shores for acquisition of coal properties to ensure security of coal supply to meet the country's energy requirements. There were indications that the miner would fall short by 350 million tonnes of coal by 2016/17.
The discussion between CIL and the DTI covered costs involved in the mining business, the industry's policy environment and within the regulatory framework.
In another development, Secretary of Mines R.H. Khwaja visited the AutoStem booth at the Mining Indaba and looked around the company's rock breaking suite of products, considered the world's safest.
AutoStem technology offers Indian Mining Engineers a safe and reliable alternative to conventional high explosive use.
Publish date : Saturday 8 February 2014 01:56
Story Code: 3141
Source : Business standard
