India's L&T eyeing Australia coal mine-report

NEW DELHI, Sept 7 Sun Sep 6, 2009 11:43pm EDT

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NEW DELHI, Sept 7 (Reuters) - Leading Indian engineering firm Larsen & Toubro (LART.BO) is in talks to buy a thermal coal mine in Australia for about $300 million, the Economic Times reported on Monday, citing two people familiar with the matter.

The paper said Hindustan Global Resources, an Australian exploration, mining and consulting company, was facilitating the negotiations.

The consultant's Vice President Amar Bhasin told the paper Larsen had shown interest in the mine in Queensland in north-eastern Australia. The mine has an estimated coal reserves of 250 million tonnes, the paper said.

A spokesman for Larsen, when reached by Reuters, declined to comment. (Writing by Devidutta Tripathy; Editing by Ben Tan)

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