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Re: Coal India Chairman Interview
I am uploading a file, from where you can download the Coal India Chairman Interview details the attachment contains the following information. Are you going to take a decision on the offer from the local government of Limpopo in South Africa on mine acquisition in your last board meeting of Coal India as disclosed by you earlier? No. This would be my last board meeting and I would not like to take such a critical decision. The Limpopo offer is still live but the proposal has to go to the board and it has to take a decision, probably after the new chairperson takes over. Again, there would be issues of risk as it is a foreign acquisition, which people are not comfortable with. Is there any update on Mozambique venture where efforts to start mining operations got delayed? We are sending a team to Mozambique, which will remain stationed there for a year. We had acquired two blocks there. There were some delays. We had earlier floated tenders for drilling and twice the tenders got delayed. So we have decided that when we set up our office there, then our people will do tendering there only and look for a local party who can immediately mobilise and start. Whatever offers had come so far are from Indian parties, who would have taken a lot of time in mobilizing resources. They might have even gone in for local tie-ups and we had to pay more money. |
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