India’s strategic push to secure overseas iron ore and coking coal assets could create investment opportunities for Australian miners.
Speaking at an industry event in Mumbai, steel secretary Sandeep Poundrik said India is looking to ramp up its steelmaking capacity.
“We are encouraging our companies to acquire assets abroad, right from iron ore to coking coal to even limestone and dolomite,” Poundrik said. “Raw material securitisation is the most important aspect of steelmaking.”
The move comes as India looks to boost its steelmaking capacity from 200 million tonnes to 300 million tonnes by 2030. This would see coking coal imports jump from 58 million tonnes to 160 million tonnes by the end of the decade.
Australia, which is supplying more than half of India’s coking coal imports, is well positioned to capitalise on this growth.
India’s state-owned miner NMDC is reportedly eyeing coking coal assets in Australia, adding to its pursuit of critical minerals in the country.
Several Australian producers have reported significant production gains in recent months, strengthening their case as attractive partners or investment targets.
Whitehaven Coal, for example, nearly doubled its production in the first half of the 2024–25 financial year (FY25), reflecting strong operational resilience.
The company delivered 19.4 million tonnes of run-of-mine (ROM) production, a substantial increase from the 10.3 million tonnes delivered in the the first half of FY24.
Stanmore Resources also posted a record-breaking 13.8 million tonnes of coal production in 2024, exceeding its guidance range.
The company attributed its strong results to the performance of its core assets, including South Walker Creek, Poitrel and the Isaac Plains Complex in Queensland.
Meanwhile, iron ore majors are similarly thriving, with Fortescue Metals achieving record shipments of 97.1 million tonnes in the first half of FY25, while BHP delivered increased iron ore and metallurgical coal volumes to start the financial year.
The company delivered record nine-month production at its Western Australian Iron Ore (WAIO) operations, producing 60.1Mt – a seven per cent increase from the prior quarter. The result demonstrated WAIO’s resilience following impacts from Tropical Cyclone Zelia and Tropical Cyclone Sean.
As India’s steel sector expands, Australian mining companies stand to strengthen their position as key global suppliers – presenting a compelling opportunity for investors seeking exposure to the next wave of resource demand.
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