"We have just decided on diversification 2-3 months ago. Still working on the modalities. We hope to ready the modalities in next few months," Coal India chairman and managing director Gopal Singh said here on the sidelines of MGMI organised 7th Asian Mining Congress.
Coal India has been contemplating foray into new minerals and metals like iron-ore, nickel, bauxite and copper to harness its mining expertise.
CIL sources said diversification into new metals and minerals will not hinder or cause any conflict with coal production targets.
We have to grow the company and we are working on diversification plans, he said.
Also Read
He, however, denied that Coal India lacks internal expertise in mining even as it expands its mineral portfolio.
Our core strength is mining, be it coal or iron ore or anything else, and Indians are experts in these and have been successful in whatever mining ventures are undertaken, Singh said.
Disclaimer: No Business Standard Journalist was involved in creation of this content