SAIL plans to acquire 25% stake in a coal mine
Indian steel producer Steel Authority of India Ltd (SAIL) is planning to acquire 25% stake in an Australian coal mine to secure coking coal supply with the purpose of increasing its capacity to 20 million tons. SAIL is reportedly planning to acquire 25% stake in Tahmoor Coal, a subsidiary of Sydney-based coal mining company Austral Coal. SAIL imports 9 million tons of coking coal each year.