A consortium led by
India's state-owned Steel Authority of
India Ltd (
SAIL) is planning to buy coal assets in
Poland, according to a Reuters report. Most steel producers in
India, the world's third-largest coal importer, depend on overseas coal shipments.
As SteelOrbis previously reported, the Indian government said it would offer financial and non-financial support for state-owned steel companies to acquire
coking coal assets overseas to establish raw material security by ensuring long-term supply sources.
India's third largest steelmaker
JSW Steel acquired certain
coking coal mining concessions in the US in 2010. The mines are located in West Virginia with total resources of 123 million mt.