BHPB entered a joint venture deal with SAIL for mining coal in Australia, but set a condition that it must be involved as a joint venture partner at the Chiria mine.

BHPB offered SAIL a 20% stake in the coal joint venture and proposed a 50:50 share in the Chiria mine with BHPB supplying funds along with modern mining equipment.

SAIL's subsidiary Indian Iron and Steel Company held the mining rights at Chiria until the end of June. Having failed to renew the mining lease in time, SAIL has now lost control of the mine, reported the Times News Network.

SAIL officials claim that the five of the six leases at Chiria have been extended, with the sixth not expiring until next year.