International Coal Ventures may bid for Rio Tinto Group's Benga project.

A group of Indian state-run metal and mining companies seeking cheaper sources of coking coal is considering bidding for Rio Tinto Group's Benga mine in Mozambique, two people familiar with the plan said.

A team will visit the African nation from 23-25 June for final due diligence, said the people, asking not to be identified before an announcement. While no price was disclosed, International Coal Ventures Pvt. Ltd. will limit its offer for Rio’s 65% stake to less than Rs.1,500 crore to avoid having to get Indian government approval, one of the people said.

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