Indian government-run iron ore miner NMDC Limited is scouting to acquire coking coal assets in Indonesia and Australia, company chairman and managing director Amitava Mukherji said in a statement on Friday, April 25.
NMDC Limited is looking at business opportunities to expand coking coal assets overseas, and the exploration of options is at various stages, he said, declining to identify the assets in Indonesia and Australia, claiming a confidentiality clause in the negotiations.
India, the world's second-largest producer of crude steel, meets 85 percent of its coking coal requirements through imports. Australia accounts for more than half of the country's coking coal imports.
State-owned NMDC is India's largest iron ore miner with four operational mines across the country.
