Actionable news
0
All posts from Actionable news
Actionable news in TECK: Teck Resources Ltd,

India in talks with Canada's Teck Resources to buy coking coal: sources

India is in talks with Canada's Teck Resources Ltd (TECKb.TO), the largest North American producer of coking coal used to make steel, for long-term purchase agreements after a cyclonic disruption in Australia cut supplies earlier this year.

India has joined top buyers China and Japan to scour new markets after a powerful cyclone hit Australia that knocked out rail lines carrying coking coal to ports for export, causing a surge in prices.

Steel Minister Chaudhary Birender Singh will be in Canada on Sunday along with executives of Steel Authority of India Ltd (SAIL) (SAIL.NS) for talks with Vancouver-based Teck over long-term, formula-based price deals, a top official in the steel ministry said, declining to be identified as the talks have not been made public.

"Coking coal prices went haywire because of the natural calamity in...


More