Coal India (CIL) is planning to form a joint venture (JV) with US-based Peabody Energy, to develop the $600m Wilkie Creek coal mine in Queensland, Australia.

CIL will hold 15% stake in the JV and the remaining 85% will be held by Peabody Energy.

CIL is also in talks with US-based Massey Energy and Novem/Sinarma of Indonesia to form partnership of their respective mining projects in US and Indonesia.

Earlier, a CIL official said that the firm is likely to buy up to a 15% stake in Peabody Energy’s Australian assets in early 2011-12 for an estimated $100m, reports PTI.