Aquila Resources Limited In Talks To Sell Australian Coal Asset To NTPC Limited And Others India's ICVL Consortium-Reuters

Reuters reported that Aquila Resources Limited is in advanced talks to sell its Washpool coking coal project to Indian state consortium International Coal Ventures (ICVL), a sale the miner needs to help fund its iron ore ambitions. Analysts have estimated the Washpool hard coking coal project in Queensland could fetch around AUD300 million ($324.14 million). ICVL is made up of utility NTPC Limited, Steel Authority of India Limited, National Mineral Development Corp. Ltd (NMDC), Coal India Limited and steelmaker Rashtriya Ispat Nigam Ltd.