November 23, 2010 / 8:56 AM / 9 years ago

Coal India eyeing Peabody asset in Australia-chair

KOLKATA, India, Nov 23 (Reuters) - Coal India (COAL.BO), the world’s largest coal miner, is in advanced talks to buy stake in Peabody’s (BTU.N) asset in Australia for about $200 million, the Indian company’s chairman said on Tuesday.

“The deal includes buying stake at a particular mine of Peabody in Australia and also a long-term offtake agreement,” Partha Bhattacharyya told reporters after the company announced its results for the first half of fiscal year 2011. (Reporting by Niladri Bhattacharya)

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