Coal India to give up three-fourths of Mozambique mine
The world's biggest coal miner, Coal India has decided to
relinquish about three-fourths of a coal mine it was allotted in Mozambique.
Coal India Africana Limitada, a fully-owned subsidiary of
the state-owned firm, was allotted two leasehold licences for extraction of
coal of about 224 square kilometre in Tete province of Mozambique.
The company board has approved retaining 54 sq km of
leasehold licence area which will be of actual interest with coal bearing
horizon occuring within a 500-metre depth and relinquish the remaining 170 sq
km area out of total leasehold licence area of 224 sq km.
The decision to relinquish was taken based on Interim
Geological Report prepared by CMPDIL, a 100 % planning subsidiary of CIL.