India Eyeing Coal Mines in Colombia For $1B

By International Business Times,  June 14, 2012, 11:19:53 PM EDT

The Aditya Birla Group, an Indian telecom-to-cement conglomerate, wants to foray into the U.S. coal industry, currently negotiating with thermal coal miner Drummond Company for a significant number of stakes in Colombian-owned mines for a total of $1 billion.

The Kumar Mangalam Birla-promoted group specifically wants to purchase some 20 per cent to 40 per cent of coal mine rights of Drummond Company to support expansion plans as well as for exclusive use of its power plants in India that make aluminum in India.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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