Coal India is seeking to acquire a stake in Indonesia’s Golden Energy Mines, The Wall Street Journal reports. The coal producer is in advanced talks to buy up to 40% of the Indonesian company for about $1 billion, adds Reuters.

The Indonesian company is a wholly owned subsidiary of Jakarta-based Dian Swastatika Sentosa. Currently, the state-run coal company is conducting a due diligence of Golden Energy.

Click here for the story from The Wall Street Journal.

Click here for the additional coverage from Reuters.