India may overcome the problem of coal shortage through Australia
According to recent new in the market, Indian steel market may overcome the problem of raw material shortage through joint ventures or strategic alliances with Australian mining companies.
Steel Minister Ram Vilas Paswan announced that he supports possible joint ventures or strategic alliances with Australian companies to ensure raw material supply for domestic market.
As previously reported by SteelOrbis, Steel Authority of
India Ltd (
SAIL) initiated talks with Australian mining giant
BHP Billiton to develop
iron ore and coal mines in
India,
Indonesia and
Australia.
SAIL and many steel producers in
India have been suffering from raw material shortage since the beginning of the year. Due to raw material shortage, certain units of
SAIL had to stop
production temporarily in March.