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Basic Materials
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Market Cap £25.39bn
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India steel ministry says increased Canadian coking coal import likely

Wed 19th July, 2017 10:51am
NEW DELHI, July 19 (Reuters) - India plans to increase its 
import of coking coal from Canada in a bid to diversify its 
import basket, the steel ministry said in a statement on 
Wednesday. 
    India was in talks with Canada's Teck Resources Ltd 
 TECKb.TO  for long-term purchase agreements after a cyclonic 
disruption in Australia cut supplies earlier this year, Reuters 
reported earlier this month.  urn:newsml:reuters.com:*:nL4N1JY457   
    "Although various measures are being taken to increase the 
supply of indigenous coking coal, India's dependence on imported 
coking coal would continue," the statement said. 
    "In such a scenario, multiple options for sourcing coking 
coal imports would lead to cost advantage and choice," the 
ministry said, adding that Canadian coking coal imports were 
expected to increase. 
    The Indian delegation led by Steel Minister Chaudhary 
Birender Singh met with Teck executives in Canada earlier this 
month, the statement said, along with executives from 
ArcelorMittal SA  MT.AS , among others.  
 
 (Reporting by Neha Dasgupta; Editing by Amrutha Gayathri) 
 ((neha.dasgupta@tr.com; +91-11-49548058; Reuters Messaging: 
neha.dasgupta.thomsonreuters.com@reuters.net)) 
 
Keywords: INDIA STEEL/
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