India seeks steelmaking raw material from Argentina, Indonesia, Oman

NEW DELHI: India will hold talks with Argentina, Indonesia and Oman next month as it seeks to boost supplies of steelmaking raw materials such as coking coal and iron ore, and access technology, two sources with direct knowledge told Reuters.

The talks are expected to begin next month at a global steel summit, described by the Indian government as the country’s largest international conference-cum-exhibition, said the sources who did not wish to be identified as the plan was not yet public.

India, the world’s biggest crude steel producer after China, relies on ferronickel imports for stainless steel manufacturing, with Indonesia holding the world’s largest nickel ore reserves. The country also imports large quantities of iron ore from Oman and Brazil, with which it signed a deal last month to expand cooperation in mining and minerals, as it seeks to meet rising domestic steel demand.

With Argentina, India aims to secure imports of lithium and other critical minerals for New Delhi’s state miner NMDC , the sources said.