Import of coking coal from Canada expected to rise: Mohit Aggarwal
Keeping up with the growth in India’s steelmaking capacity, import of coking coal from Canada is expected to rise, says Mohit Aggarwal, the Chief Managing Director of Aastha Group.
According to the production targets in National Steel Policy 2017, it is expected that the coking coal requirement will increase from the current level of around 60 million tonnes per annum (MTPA) to 160 MTPA.
Despite the steps being ensured to increase the supply of indigenous coking coal, it is likely to make no difference on its import. It will not put an end or cut down the dependence on import, believes Mohit Aggarwal of Aastha Group. A statement issued by India’s Steel Ministry says that in such kind of scenarios, multiple options for sourcing coking coal imports would lead to cost advantage.
As a matter of fact, around 30 million tonne coking coal is exported annually by Canada. Mohit Aggarwal emphasizes that, out of this, around 3 million tonne is purchased by Indian steel companies.
The statement further highlighted that Birender Singh, the Union Minister of Steel, led a delegation comprising of senior officials from the ministry and its PSUs to Canada. He had an extensive interaction with James Carr, the Canadian Natural Resource Minister.
Birender Singh discussed the issues of great importance, such as the growth of steel industry in India and the strategic importance of Canadian coking coal for Indian steelmakers with James Carr. Mohit Aggarwal highlights that the team also focused on the need for collaborations in the area of environment-friendly mining, coal beneficiation and research & development.
Singh’s extensive discussions with representatives of Canadian Institute of Steel Construction (CISC) were yet another highlight of his visit.
With the prime objective of exploring the possibility of setting up the same in India, India’s steel minister showed great interest in the working and structure of the institute.
Further, a joint meeting including various steel-related Canadian institutions and industry representatives was organized by the delegation. It mainly deliberated on the issues of common interest. The delegation also visited a coking coal mine in the State of British Columbia.