A group of Indian state-run metal and mining companies is planning to buy three of Rio Tinto’s coal mines in Mozambique for around $US108 million ($114.7m), said people familiar with the negotiations.
If the deal goes through, it will be the first acquisition by India’s International Coal Ventures, which was set up in 2009 to buy assets abroad by government-run companies including Steel Authority of India, Coal India and power producer NTPC.
“We expect the deal to be signed over the next three to four days,” a government official involved with the negotiations said.
A Rio Tinto spokesman declined to comment Thursday…
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