The government today approved a policy to facilitate state-run enterprises to acquire overseas mineral assets, a move that could pave way for the International Coal Ventures Limited (ICVL) to intensify efforts to secure coal properties abroad. The Union Cabinet formally endorsed the overseas mineral assets acquisition policy for those central PSUs, which have registered profits for the past three consecutive years implying that they have a sound financial position. The policy finalised by the Ministry of Heavy Industry and Public Enterprises seeks to empower the maharatna and navratna PSUs to execute such buy-outs.