India may overcome the problem of coal shortage through Australia

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.