The plan is a part of the company’s efforts to cater to the domestic supply requirements.
The stake-buy is estimated to cost Coal India around $375m, assuming the company acquires at least 25% interest in each of the mines.
CIL executive was quoted by Business Standard as saying that the company signed non-disclosure deals with three companies in April.
The three mines together produce 25 million tons per annum.
In addition to Australia, Coal India is looking to acquire coalmines in Botswana – a country with one of the largest coal resources in the Africa.
