{"id":44969,"date":"2025-01-09T15:58:01","date_gmt":"2025-01-09T15:58:01","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/india-eyes-mining-deal-with-mongolia-to-secure-high-grade-coking-coal-supply\/"},"modified":"2025-01-09T15:58:01","modified_gmt":"2025-01-09T15:58:01","slug":"india-eyes-mining-deal-with-mongolia-to-secure-high-grade-coking-coal-supply","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/india-eyes-mining-deal-with-mongolia-to-secure-high-grade-coking-coal-supply\/","title":{"rendered":"India eyes mining deal with Mongolia to secure high-grade coking coal supply"},"content":{"rendered":"

(Originally posted on : Invezz )<\/b>
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India is likely to sign a preliminary agreement with Mongolia in the area of geology and exploration, a government official told Reuters on Thursday. <\/p>\n

India is one of the top consumers of copper and minerals used in power, construction, and electric vehicles. <\/p>\n

Mongolia has a lot of deposits of copper and coking coal, while India is mostly dependent on imports to meet its rising demand for these commodities. <\/p>\n

According to the source quoted by Reuters, India\u2019s cabinet has approved the memorandum of understanding, and both countries are expected to sign the document soon. <\/p>\n

Indian mining companies such as Hindalco, Adani, and Vedanta have earlier expressed interest in importing copper from Mongolia, according to the report. <\/p>\n

Trade route<\/h2>\n

Additionally, both India and Mongolia have been working on a trade route to supply copper and coking coal. <\/p>\n

According to the report, India is said to prefer the route from Vladivostok in Russia despite the longer distance. <\/p>\n

The government official told Reuters:<\/p>\n

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China is convenient but we prefer the route from Russia.<\/p>\n<\/blockquote>\n

India and China have been at loggerheads since a deadly military confrontation on their disputed border in 2020. <\/p>\n

However, both countries had reached an agreement to pull back troops from their last two stand-off points in Western Himalayas.\u00a0<\/p>\n

Avoiding the trade route from China could also be a strategic move by the Indian government. <\/p>\n

India\u2019s ties with Russia are cordial and have been strengthened over the last couple of years.\u00a0<\/p>\n

India started shipping crude oil from Russia in March 2022 after western powers imposed heavy sanctions on Moscow\u2019s oil exports to limit its war efforts against Ukraine. <\/p>\n

Before the war broke out in February 2022, Russia only accounted for 2% of India\u2019s total crude oil imports. <\/p>\n

Superior quality<\/h2>\n

The government official told Reuters that Mongolia can supply India with superior grades of coking coal. <\/p>\n

In November last year, India\u2019s JSW Steel and the government-owned Steel Authority of India were in talks with Mongolian authorities. <\/p>\n

Both companies wanted to import two shipments of coking coal from Mongolia, Reuters had reported previously. <\/p>\n

According to reports, India is exploring lithium in the Himalayan region of Jammu and Kashmir, and expects it to be ready to be auctioned in two months.<\/p>\n

The government has launched multiple auctions of critical minerals as a part of its push toward cleaner energy alternatives and also plans to offer financial incentives for extraction of such minerals.<\/p>\n

The post India eyes mining deal with Mongolia to secure high-grade coking coal supply<\/a> appeared first on Invezz<\/a><\/p>\n

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(Originally posted on : Invezz ) India is likely to sign a preliminary agreement with Mongolia in the area of geology and exploration, a government official told Reuters on Thursday.  India is one of the top consumers of copper and minerals used in power, construction, and electric vehicles.  Mongolia has a lot of deposits of […]<\/p>\n","protected":false},"author":3947362381,"featured_media":44970,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[38],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/44969"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362381"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=44969"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/44969\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/44970"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=44969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=44969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=44969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}