INDIANS GO BUYING METAL MINES

NEW DELHI : Coal India Ltd, the world's largest coal miner, has held internal talks to discuss  buying metals mines abroad amid faltering revenue and rising employee costs-

Potentially signalling a strategy shift to cut reliance on the fossil fuel.

The state run company plans to form two units : one to manage its local mining of iron ore, bauxite and manganese, and another to expand into copper and nickel mining overseas.

''The plans of Coal India to enter into the meat mining business both in India and abroad are in a very nascent stage-

And of strategic and confidential nature,'' the company said.

Coal India which so far has been unsuccessful in buying stakes in overseas coal mines, is banking on government to government deals for its overseas foray into metal mining, company officials said.

Adding that any proposals that follows will be subject to board approval.