December 04, 2008

Essel Mining may acquire thermal coal mines in Indonesia

BS reported that Essel Mining & Industries is looking at acquiring thermal coal mines in Indonesia.

Mr Ravi Kastia MD CEO of Essel Mining, while speaking on the sidelines of Global Steel 2007, said that “We are looking at some coal initiatives in Indonesia, primarily thermal coal.” He added that if it materializes then it would be Essel Mining’s first coal mine.

Essel Mining currently operates 4 to 5 iron ore mines at Barbil in Orissa and some small manganese mines. Its total iron ore production would be in the range of 7.5 million tonnes and the mines were fully explored. It owns more than 125 million tonnes of ore having an iron content of more than 65%.