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New UserICVL acquires coal properties in Mozambique
28 Apr 2015
April 28: International Coal Ventures Limited (ICVL), a consortium of Steel Authority of India Limited (SAIL) and other promoter companies, has acquired an operating coking coal mine and two other coal assets in Mozambique for $50 million, said Vishnu Deo Sai, Minister of State in the Ministry of Steel and Mines in the Lok Sabha on April 27.
“This is a strategic investment for ensuring long-term security in supply of essential raw materials for the steel-making promoter companies,” he said.