TPG and GIC to invest in Indonesia's coal firm
A labourer works at a coal warehouse in the eastern Indian city of Siliguri April 8, 2009. India must move its workforce out of roles with low incomes and low productivity if it has to accelerate the pace of poverty eradication, according to a report published by staffing firm TeamLease on Monday. The workers at the coal warehouse earn about 60 rupees ($1.19) a day. REUTERS

Mozambique has awarded India's Jindal Steel & Power a 25-year licence to explore and mine for coal in the northwest Tete province, in return for a $180 million investment, the country's resources ministry said on Friday.

Jindal will invest $180 million in the Tete coal mine, as part of a project that will cover 2,1540 hectares and directly employ 1,500 people, the Mineral Resources Ministry said in a statement.

The deal will be formally signed on Monday and the government will own a 10 percent stake.

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