Reuters reported that US headquartered coal miner Drummond Co Inc is considering an initial public offering in the next few years after selling a stake in its Colombian operations to Japanese trade house Itochu.

Drummond and Itochu announced the setting up of a new entity, Drummond International LLV in which Drummond Co will hold 80% and Itochu 20% to develop the Colombian mines and infrastructure and with the aim of expanding coal sales to Asia.

(Sourced from Reuters)