BHP contemplates mining Indian ore
Representatives from Australian
iron ore miner
BHP Billiton recently arrived in
India to scout for opportunities to expand the company's mining operations into
India.
BHP billion already supplies
iron ore and coal to major Indian steelmakers such as Steel Authority of
India Ltd. (
SAIL) and
Tata Steel Ltd., so opening domestic mines would significantly reduce transportation costs for the Australian miner.
Indian mines would also provide the company the chance to market its products to
China at a lower cost. Indian ore sold through the spot market to
China has been a threat for the company in 2005.