MUMBAI, India Indian and Canadian officials have taken steps toward cooperating in the iron and steel sector, potentially including coking coal.
A letter of intent was signed in New Delhi Jan. 13 by Joseph Oliver, Canadas minister of natural resources, and Beni Prasad Verma, Indias steel minister, for the two countries to develop and cooperate in areas of mutual interestincluding iron ore, coking coal and other steelmaking raw materialsand also encourage bilateral investment opportunities in the iron and steel business, the Indian steel ministry said.
Verma identified coking coal as one area in which Canadas natural resources could benefit India.
India is the worlds third-biggest importer of the steelmaking raw material, and its steelmakers have been trying to secure supply deals around the world, including with mining companies in Australia, the United States and Canada.
In July, Verma visited Canada on a trade mission with the goal of generating raw material supply agreements with Canadian companies. As a result, the government of British Columbia agreed to cooperate with Indias Rashtriya Ispat Nigam Ltd. (RINL) to help source coking coal in the province.
Oliver was in India with a high-level delegation that included Stewart Beck, high commissioner of Canada; Rosaline Kwan, deputy commercial program manager; and Jay Khosla, assistant deputy minister of the energy sector.
A version of this article was first published by AMM sister publication Steel First.