DTI, India’s State-owned coal miner to collaborate
JOHANNESBURG (miningweekly.com) – India’s State-owned coal mining company Coal India Limited (CIL) and South Africa’s Department of Trade and Industry (DTI) have teamed up to explore mutual prospects and opportunities in South Africa’s mining industry value chain.
The parties this week met on the sidelines of the Investing in African Mining Indaba, held in Cape Town from February 3 to 6, to discuss a potential boost to trade relations between the two countries.
The DTI said on Tuesday that CIL had been mapping the South African coal mining industry, with an interest in acquiring mining concessions and information on how best to exploit coal deposits in a way that serves the best interest of all stakeholders.
According to the company’s website, CIL was intent on “foraying into foreign shores for acquisition of coal properties” to ensure security of coal supply to meet the country's energy requirements.
CIL noted that it was under pressure with issued letters of assurance already in excess of CIL's production capacity, with indications that the miner would fall short by 350-million tonnes of coal by 2016/17.
“Realistically, CIL would not be able to satiate growing coal demand,” it said, noting that coal imports were inevitable.
“It is becoming increasingly evident that domestic coal demand is far outstripping the indigenous production in India. The gap between demand and supply is ever expanding.”
The discussion between the DTI and CIL extended to the costs involved in the mining business, the industry’s policy environment and government’s priority in clarifying and providing predictable solutions within the mining and regulatory framework.
“These discussions with different stakeholders are a breakthrough on how South Africa could engage more productively with investors in the mining sector,” said DTI investment promotion and facilitation chief director Yunus Hoosen.
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