India Explores Russian Coking Coal and Nickel Assets
State-owned firms SAIL and NMDC are evaluating acquisitions of Russian coking coal and nickel assets to secure critical raw materials. A delegation visited Russia to discuss supply chains essential for India's steel production and electric vehicle battery goals.
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STEEL AUTHORITY OF INDIA and NMDC LTD are exploring the acquisition of coking coal assets in Russia to secure critical raw materials. The move follows a preliminary delegation sent by India to Moscow last month for talks with government and industry executives. Securing these supplies is vital as India seeks to expand steel production and insulate its electric vehicle supply chain from price volatility.
