Coal India to soon open office in Singapore

New Delhi: State-owned Coal India Limited (CIL) is soon going to open an office in Singapore to cater to its overseas investments in critical minerals, sources privy to the development said.

The Singapore office will help Coal India Ltd (CIL) expand its critical minerals business, pursue overseas asset acquisitions, they said.

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Coal India has already applied with Singapore authorities to register the office, which will also support efforts to acquire mineral assets overseas.

The company is looking at critical minerals like lithium copper nickel and rare earth elements in countries like Chile, Canada, and Australia, sources said.

The sources said it will not be the first overseas office of CIL as about 10 years back a coal project was undertaken at Mozambique under Coal India Africana Limitada (CIAL).

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Owning a graphite asset will give Coal India an advantage in powering green energy transition momentum to an extent, the company had said.

The country imports about 69 per cent of its graphite needs -- natural, synthetic and end-use products. Currently, the graphite mining industry has limited players, offering space for willing players to venture into this business arena.

Graphite has its utility as an anode material in lithium-ion battery manufacturing due to its relatively low cost and energy density. With the electric vehicle market and energy storage systems fast gaining traction, where lithium-ion cells are used, graphite has a big market.

Coal India accounts for over 80 per cent of domestic coal output.

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