The Economic Times

Steel Ministry asks SAIL, NMDC to scout overseas mineral assets for raw material security

The Steel Ministry has instructed state-run steelmakers SAIL and NMDC to explore overseas mineral assets. This effort aims to secure long-term raw material supplies necessary for steel production. Indian steelmakers currently rely heavily on imports for coking coal and limestone, which increases their costs. Diversifying mineral portfolios could also benefit NMDC as it seeks to enhance its revenue streams.