SAIL eyes overseas coking coal mines

SAIL eyes overseas coking coal mines

Kolkata: State-run Steel Authority of India Ltd (SAIL) is looking at acquiring licenses for coking coal mines abroad to protect itself from fluctuating raw material prices, its chairman S.K. Roongta said on Tuesday.

The company is in talks with firms in Australia, New Zealand, Mozambique and Indonesia, Roongta told reporters.

“We are looking at both operational and exploration licenses. We are looking to secure 30-40% of our coking coal needs through acquisitions," he said.

The company’s annual coking coal requirement stands at 15 million tonnes, he said.