ICVL to Submit Binding Bid for 3 Coking Coal Mines In Mozambique
Coke | 2014-07-04 08:23:46
International Coal Ventures PVT LTD (ICVL), a group of PSU companies for buying mines abroad is probably to submit a bid of about USD 200 million to major miner Rio Tinto for buying all its three coking coal mines in Mozambique.
By Paul Ploumis
NEW DELHI (Scrap Monster): International Coal Ventures PVT LTD (ICVL), a group of PSU companies for buying mines abroad is probably to submit a bid of about USD 200 million to major miner Rio Tinto for buying all its three coking coal mines in Mozambique.
The coking coal mines are situated in the north of the country. Rio Tinto Coal Mozambique owns 100 percent stake each in Tete East and Zambeze projects. Rio also has 65 percent share in Benga Mine in which remaining is held by Tata Steel.
ICVL has done preliminary discussions with some Rio Tinto executives in Mozambique and it is likely to submit a binding bid of about US$ 200 million with two weeks for buying its shares in all three coking coal projects, said on source from the steel ministry.
