Under the MoU, the parties have agreed to work together and bid for the development and operation of underground coal mining projects. The major focus of the announced collaboration will be on, but not limited to, potential projects in India, Mongolia, Australia and the United States. “We believe there is great potential for synergies between Massey and Jindal Steel,” said Don L. Blankenship, Massey’s chairman and CEO. “We expect that by combining our technical expertise in underground mining with Jindal’s broad portfolio of international assets and businesses we will be able to establish profitable joint ventures.” Under the terms of the agreement, Jindal Steel & Power will identify various underground coal mining projects in India and other countries and obtain necessary licenses, permits and approvals from the respective government authorities. Massey will provide technical mining expertise and will be responsible for the development of detailed underground mine project plans.
