Close on the heels of its diversification into iron ore mining, Indian government-run Coal India Limited (CIL) is seeking approval to open an office in Singapore to function as its overseas iron ore trading business, industry sources said on Tuesday, August 25.
Earlier this month, CIL was declared the preferred bidder for the Gadhadhar iron ore block with estimated reserves of 288 million mt, and announced its plans to bid for more iron ore assets to emerge as a diversified resource company from its current business of fossil fuel supplies.
CIL's Singapore office would focus on expanding its critical mineral business vertical, supporting its pursuit of overseas mineral asset acquisitions and its trading activities in iron ore, the sources said.
