Later this month Coal India Ltd (CIL), the world's biggest coal producer, will sign an agreement with the Limpopo government in terms of which it will receive mining rights on various coal blocks in that province.
Coal India Ltd., facing a drop in output for the first time in more than a decade, is accelerating its search for overseas assets after talks with Massey Energy Co. and Peabody Energy Corp. failed.
Production by Coal India Ltd has been hit hard by a recent strike by workers and excessive rainfall at some of its collieries, affecting coal supply at most thermal power stations across India.
Coal India is planning to invest about INR280bn ($6.2bn) in 68 coal mining projects in India, which have a production capacity of 230 million tonnes per annum.
Orezone Gold Corporation (ORE:TSX) is pleased to announce that it has completed the sale of its Sega Gold Project ("Sega") in Burkina Faso to Cluff Gold plc (Cluff) for total consideration of approximately US$26.5M.