Coal news and updates

Further Coal India share sale possible - finmin official

Another tranche of share sale in state-run miner Coal India Ltd, the largest coal producer in the world, is "not ruled out", a finance ministry official told CNBC-TV18 television channel on Monday.

Aradhana Johri, divestment secretary at the ministry, did not specify any time-frame for the share sale in the company, which is nearly 80 percent owned by the government.

The government still needs to sell about just over percent of its stake in Coal India to bring down its holding to 75 percent in listed state-run companies, as stipulated the market regulator.

In January, New Delhi raised about $3.6 billion by selling a 10 percent stake in the miner, the largest-ever equity deal in the local market.

source: http://in.reuters.com