rci bid now 50c, page-8

Actually, it wouldn't surprise me if Bhushan is more interested in BWN's PCI coal potential and its thermal coal potential rather than coking coal.

If I remember correctly, Bhushan is building a new steel mill with Korean help that will use the PCI process. I might be wrong about this, it is quite a while since I read the article but maybe others can correct me if I am wrong.

Bhushan is also building a coal fired power station.

And please keep in mind that Bhushan are, according to their website, expanding their steel production capacity from 1M tpa to 12Mtpa which could explain their keeness to latch onto coal assets.

Interestingly, despite denials to the ASX that he ever said it, Bhushan's own website quotes Nittin Johari as saying they believe BWN has 1 billion tonnes of coal - take a look at http://www.bhushan-group.org/pdf/2.10.pdf