Feb 6 Coal India Ltd, the world's top
coal miner, plans to acquire coking coal assets abroad as India
lacks technology to economically develop local reserves, Coal
Minister Piyush Goyal said.
"The recent spurt in global coal prices, particularly for
coking coal, is expected to create an encouraging scenario for
such acquisition process," Goyal told lawmakers in a written
Coking coal futures on the Singapore Commodity
Exchange soared in the second half of last year as top consumer
China clamped down on local production as part of a campaign
They have since dropped by about 40 percent to around $170 a
tonne, but are still double what they were in mid-2016.
Coal India has surrendered two mining licenses in
Mozambique, and currently does not own any foreign coal assets,
(Reporting by Sudarshan Varadhan in New Delhi; Editing by