media report from india

This is on of the reports that HRS are referring to...

JSPL in Talks with Hudson Resources for Coking Coal Exploration JV - Jindal Steel & Power (JSPL) is in advanced talks with New South Wales-based mining firm Hudson Resources to form a joint venture for exploration and mining of coking coal in Australia. The JV is expected to absorb investments of $100 million, once mining commences in the proposed coal block. The coal mines are located in Maryborough Basin of Queensland with estimated recoverable reserves of 20 million tonne (mt), which could go up to 200 mt, if explored further. JSPL will hold 15% equity in the proposed JV during the exploratory stage, while ASX-listed Hudson Resources will hold a majority stake.