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Nov
17
SAIL eyes overseas coking coal mines
Posted on: November 17, 2009 at 5:08 pm | 114 views
State-run Steel Authority of India (SAIL) is looking at acquiring licenses for coking coal mines abroad to protect itself from fluctuating raw material prices, its chairman S.K. Roongta said on Tuesday.
The company is in talks with firms in Australia, New Zealand, Mozambique and Indonesia, Roongta said.
“We are looking at both operational and exploration licenses. We are looking to secure 30-40% of our coking coal needs through acquisitions,“ he said.
The company`s annual coking coal requirement stands at 15 million tonnes, he said.
Tags:annual coking coal requirement, Australia, both operational and exploration licenses, coking coal mines abroad, Indonesia, Mozambique, New Zealand, Roongta, SAIL eyes overseas coking coal mines, state-run, Steel Authority of India (SAIL)
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