November 13, 2010 / 4:55 AM / 10 years ago

Coal India in talks for Massey, Peabody mines: report

MUMBAI (Reuters) - State-run Coal India (COAL.BO) is in talks to buy mines from U.S.-based Peabody Energy (BTU.N) and Massey Energy MEE.N, according to a media report citing the company’s chairman.

“They expressed interest in offering certain mines to us and we are looking at that,” Partha Bhattacharyya said in a report by the Associated Press carried in the Economic Times newspaper on Saturday.

“The discussions are continuing,” the report quoting him as saying. He declined to provide further details.

Coal India recently raised $3.4 billion in the country’s largest initial public offering.

The company has said it is looking to make acquisitions in Australia, Indonesia and the United States, and the report said Coal India has budgeted $1.2 billion to buy assets in those countries during the fiscal year that ends in March.

Writing by Tony Munroe; Editing by Ron Popeski

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