India Seeks Coking Coal Supply from Australia, New Zealand

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Researched by Industrial Info Resources India (Delhi, India)--In a bid to secure supplies to meet the growing demand of coking coal in India's steel sector the Government of India seeks to strengthen cooperation with major Coal Producing nations such as Australia and New Zealand. A top delegation led by India's Steel Minister, Beni Prasad Verma recently visited these nations to forge ties in the coal sector.

India plans to boost steel production from the current 80 Million Tons Per Annum (MTA) to 300 MTA by the year 2025. India's Vision 2025 for the steel sector raises massive demand for the black rock which is used in making metallurgical coke used as a reducing agent in blast furnace. To meet the targeted production levels India is looking for reliable supply of the vital raw material and seeks to start import from Australia on priority basis.

The delegation comprised of Chairman of Steel Authority of India (SAIL) (BSE: 500113) (New Delhi), National Mineral Development Corporation (NMDC) (BSE: 526371) (Hyderabad) and International Coal Ventures Private Limited (ICVL) (New Delhi), Joint Secretary, Ministry of Steel, Syedin Abbasi; Chairman & Managing Director of Manganese Ore India Limited (MOIL) (BSE: 533286) amongst others.

During the visit the Indian Minister met the Minister of Industry and Resources, Government of Australia, Ian Macfarlane. The Minister of Steel also met Queensland's Minister of Natural Resources and Mines, Andrew Cripps and Deputy Premier, Jeff Seeney. While interacting with Macfarlane, Verma sought supply of coking coal to Indian steel Industry on a priority basis. Minister of Steel further talked about exploring the possibility of a long term agreement for export of coking coal.

India has already entered into a pact with Canada to develop and enhance co-operation, through information exchanges in the areas of mutual interest including iron-ore mining, coking coal and other raw materials used in the production of steel and encourage bilateral investment opportunities in iron and steel related businesses. Canada is endowed with a huge wealth of natural resources, especially coking coal and aims to increase the current $5 billion trade with India to $15 billion by 2015. For Indian Steel sector it means access to new sources of much-needed raw materials.

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