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Firing up the coal

India needs coal to fire up its growth, freight rates from Australia's mines have soared, and India's own coal-mines are crippled by price controls and labour regulations. So importers are looking to Mozambique, where shipping costs are 30% below Australia's and coal reserves are barely exploited. In late 2007 the Mozambican government said it intended to grant Indian companies coal-mining licences for reserves of 200-300 million tonnes. India's biggest firms have stepped in decisively....

(This article contains approximately 367 words)

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