Coal India eyes Singapore in hunt for critical assets

Meanwhile, the Economic Times daily newspaper is available online now.

Key points

• Coal India intends Singapore trading hub in hunt for critical mineral assets: Sources.
• Coal India is establishing its first overseas trading office in Singapore.
• Coal India has applied with Singapore authorities to register the office.

What happened

Coal India is establishing its first overseas trading office in Singapore. This move intends to diversify into trading iron ore and critical minerals. The firm is evaluating opportunities in Africa, Chile, and Canada for mineral assets. Efforts are underway to reduce dependence on China for essential resources. This expansion supports clean energy ambitions and manufacturing expansion goals.

New Delhi: The world's largest coal producer, Coal India Ltd, is setting up its first overseas trading office in Singapore, aiming to diversify into trading iron ore and critical and strategic minerals, two sources remarked. Though such efforts have so far borne little fruit, the move comes as Indian state-run firms step up efforts to secure overseas supplies of critical minerals such ‌as lithium and ⁠bauxite ⁠so as to reduce dependence on China. Coal India has applied with Singapore authorities to register the office. It will additionally backing efforts to acquire mineral assets overseas, noted the sources involved in the discussions, who sought anonymity as the negotiations are not public.

The bottom line

In short, coal India eyes Singapore in hunt for critical assets is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.