NEW YORK (
) -- India state-owned coal giant
is eying five mines in the U.S., Australia and Indonesia, including those of U.S. coal producers
, according to a
Previously, Coal India's chairman, Partha Bhattacharyya, spoke about the company's interest in the coal assets of the U.S. producers, but didn't get into where these assets were located.
reported that Bhattacharyya said in an interview in New Delhi on Nov. 25, that the company is considering a Peabody mine in Australia, a Massey mine in the U.S. and a coal mine in Indonesia, without revealing the name of the third company.
The company, says
, is also looking at two other coal mines in Australia, but hasn't started due diligence on those yet.
didn't mention who owned these two coal mines, but reported that Coal India may start asking banks to begin researching the opportunities there soon.
Coal India has set aside about $8.3 billion in cash to buy overseas coal assets, from which it plans to resolve half of energy-hungry India's growing coal supply deficit.
Shares of Massey Energy are down 0.3% to $49.43 in late morning trading. Peabody has fallen 0.7% to $58.29.
-- Written by Andrea Tse in New York.
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