Coal India to give up three-fourths of Mozambique mine

Highlights:

  • 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.