Coal India may bid for Indonesia's Golden Energy Mines

Renewable Energy  |  2011-05-27 04:44:31   |   By Paul Ploumis

Coal India, the world's largest producer of coal may bid to buy stakes in Indonesia's PT Golden Energy Mines

NEW DELHI (Scrap Monster): Coal India, the world's largest producer of coal may bid to buy stakes in Indonesia's PT Golden Energy Mines.

The public sector giant is currently doing due diligence of PT Golden Energy, according to media reports.

Golden Energy exports coal to countries such as India and China and its client base includes Sumitomo Corp., Glencore and Ace Trading, according to its Web site. The company's current production capacity stands at about 10 million tons.

Coal India is also evaluating prospects in countries like Indonesia, Australia and U.S.

To meet rising demand from consumers, mainly in the power sector, the company has been scouting for mining assets overseas.

Coal India will have an assured supply of coal from Golden mines to India if the deal is done.