Coal news and updates

India eyes long-term coking coal pact with Australia

January 29: India has sought a long–term coking coal supply agreement with Australia for the domestic steel industry on a priority basis, said an official release from the Ministry of Steel.

The release said that Beni Prasad Verma, Union Minister for Steel, explored the possibility of a long-term agreement between Australian miners and Indian steel producers for coking coal during his meeting with Ian Macfarlane, Australian Minister of Industry and Resources.

"Our coal requirement is set to rise within a decade as we have planned to increase our steel production to 300 million tons from the present level of about 80 million tons. Our country is looking for reliable raw material suppliers. Australia can consider supply of coking coal to the Indian steel Industry on a priority basis." he said.

Ian Macfarlane, Australian Minister of Industry and Resources said his country has been supplying coking coal to India and understands the potential of the Indian steel industry.

Beni Prasad Verma, who is leading a five-member delegation to the country, also invited Australian businessmen to form collaborations with Indian companies in mining and the coal sector, during the Australia-India Business Council meeting, the release added.