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SAIL looking to acquire stake in BHP’s Maruwei coal mine
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Due to short supply and increased coking coal price, Steel Authority of India Limited (SAIL) is seeking a stable supply of coking coal. SAIL is looking to acquire a stake in one of BHP Billiton’s Indonesian coal mines. According to BHP Billiton India Chairman M S Ramachandran SAIL is eager to take part in the company’s Maruwei mine. NO specifics were released. SAIL needs 20 million metric tons of coking coal every year, 50 percent of which is import. The Maruwei project is expected to have an annual output of 5 million tons and will be commissioned in 2009. (Dec. 11)
News Date
12/11/2005 11:10:47 PM
reported by
Shawn
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