• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 9 hours Rioting and Protesting
  • 16 hours Trump waves a Bible
  • 2 hours George Floyd’s History
  • 3 hours The Downside of Political Correctness
  • 2 hours Coronavirus hype biggest political hoax in history
  • 18 hours Healing, Not Hatred
  • 5 hours US and Australia Sign SPR Lease Agreement
  • 7 hours Let's try to link the recent events back to the situation with oil production and pricing
  • 8 hours China To Boost Oil & Gas Exploration, As EU Prepares To Commit Suicide
  • 10 mins Main Stream Media falls into depressed mood today after hearing the record May jobs report UP 2.5 MILLION JOBS !
  • 4 hours China’s Oil Thirst Draws an Armada of Tankers
  • 18 hours Let’s Try This....
  • 15 hours Trumps Oil Industry....
  • 19 hours Chicago Threatens To Condemn - Possibly Demolish - Churches Defying Lockdown
  • 1 day China to Impose Dictatorship on Hong Kong
Another OPEC Producer Looks To Back The Aramco IPO

Another OPEC Producer Looks To Back The Aramco IPO

As the world’s largest initial…

What The Market Is Overlooking In The Occidental Deal

What The Market Is Overlooking In The Occidental Deal

Occidental Petroleum has caught a…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

"Kitchen Sink" Time in India

Sometimes we have tendency to connect events that may actually be completely random.

But sometimes things just seem too connected to be coincidence.

That feel is strong today after news of not one, not two, but three separate deals by struck India's major minerals firms. Aimed at acquiring mining assets abroad.

In Australia, reports emerged last week that Indian steelmaker Jindal Steel & Power has purchased a majority stake in ASX-listed Gujarat NRE Coking Coal. The company will reportedly use Gujarat's Australian coal mines as captive supply for its steel works.

At the same time, Platts is reporting that Jindal has also acquired iron ore licenses in Mauritania, Namibia and South Africa. Supply from these projects will reportedly also be used primarily by the company, although some output may be traded.

To top it off, Indian state-controlled iron ore miner NMDC this week struck a deal to acquire a zinc-lead-silver project in Australia's Northern Territory. The conglomerate is signed up to buy the exploration license from TNG Ltd. for consideration of A$5 million.

That's a lot of moves in a lot of places, within a short time.

With outgoing mining M&A from places like China and Japan seeming to have tapered off, India looks to be picking up the pace. This fits what we've seen lately of the country's ravenous demand for commodities like coal. A sector where India's demand growth dwarfs all other nations.

We'll see if the trend continues. The buying isn't quite at "kitchen sink" pace yet. But it might be time to take a look at good assets around the Indian Ocean sphere.

Here's to the buyers in the market,

By. Dave Forest


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News