Coal India, an Indian state-controlled coal mining company, announced that Coal India Africana Limitada, a 100% subsidiary of Coal India (CIL) in Mozambique was allotted two leasehold licences for extraction of coal of approx. 224 sq. km in Tete, province of Mozambique.

In the 316th board meeting held on July 04, 2015, on the basis of Interim Geological Report prepared by CMPDIL, a 100% planning subsidiary of CIL, board has approved to retain 54 sq. km of leasehold licence area which will be of actual interest with coal bearing horizon occurring within 500 mtr depth and relinquish the remaining 170 sq. km area out of total leasehold licence area of 224 sq. km.  

Shares of the company gained Rs 4.95, or 1.14%, to trade at Rs 439. The total volume of shares traded was 0 at the BSE (9.08 a.m., Wednesday).