“They must develop what they have first,” Noormahomed told reporters today in Maputo, the capital. “Then we will sit down and decide what to offer.”
Coal India, based in Kolkata, has prospecting rights to two blocks, measuring 225 square kilometers (87 square miles), and wanted rights to another five explorations blocks, Narinder Khurana, a director of Central Mine Planning & Design Institute Ltd., a unit of Coal India, said yesterday in Maputo, Mozambique’s capital. Khurana is part of a delegation, led by India’s Coal Minister Sriprakash Jaiswal, visiting the southern African country.
The company will start exploration of the two blocks it has in June and will invest $400 million if viable deposits are found, Khurana said.
