SteelMin seeks coking coal on long-term basis

SteelMin seeks coking coal on long-term basis

As steel companies feeling the heat from surge in coking coal prices, the Steel Ministry has approached Coal Ministry to seek availability of metallurgical coal on long-term basis, a top official said.

“What we are asking the Coal Ministry is that when they auction the coking coal mines they should do it long-term, so that if the private sector wants to invest upon the washeries they are free to invest upon it,” Steel Secretary Aruna Sharma said.

Currently, domestic steel makers meet 70 per cent of their coking coal requirement through imports.

“It should not a short term…We want to underline it very clearly that coking coal mine should be for long-term. thats all,” she said adding that “So just create a facilitating platform by flagging all the issues and getting them resolved so that the steel sector blooms in a big way.” Read More…

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