Coal India has received the board approval for signing an agreement with African Exploration Mining & Finance Corporation SOC Ltd (AEMFC), owned by the South African government to acquire coal mines in that country.

The company has said in a report that “The CIL has accorded approval to the proposal for execution of MoU between CIL (Coal India) and African Exploration Mining & Finance Corporation, SOC Ltd (AEMFC), an entity owned by the government of South Africa for identification, acquisition, exploration, development and operation of coal assets in South Africa.”

The CIL board’s decision has been communicated to AEMFC requesting them to finalise the date and venue of signing of the agreement.

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