India Diversifies Coking Coal Sources to Reduce Dependence on Australia

India is actively seeking to diversify its coking coal imports by exploring new sources in Canada, Russia, Mongolia, Mozambique, and the United States. This strategic move aims to reduce the country's heavy reliance on Australia, which has traditionally supplied about 80% of India's coking coal needs. The initiative is part of India's efforts to ensure a stable supply of this crucial raw material for its growing steel industry. Steel companies, including JSW Steel and the state-owned Steel Authority of India (SAIL), are already in talks to receive trial shipments from Mongolia. This diversification is expected to enhance India's energy security and potentially optimize production costs for steelmakers.
Source: Economic Times, February 12, 2025