• 4 minute Hey Oil Bulls - How Long Till Increasing Oil Prices and Strengthening Dollar Start Killing Demand in Developing Countries?
  • 8 minutes Could oil demand collapse rapidly? Yup, sure could.
  • 15 minutes Oil and Trade War
  • 1 hour Could oil demand collapse rapidly? Yup, sure could.
  • 12 hours Are EVs Safer Than Combustion Engine Vehicles?
  • 9 hours What If Canada Had Wind and Not Oilsands?
  • 3 hours U.S. Withdraws From U.N. Human Rights Council
  • 1 hour Hey Oil Bulls - How Long Till Increasing Oil Prices and Strengthening Dollar Start Killing Demand in Developing Countries?
  • 2 hours Gazprom Exports to EU Hit Record
  • 2 hours EVs Could Help Coal Demand
  • 15 hours Sell out now or hold on?
  • 16 hours Nopec Sherman act legislation
  • 11 hours WE Solutions plans to print cars
  • 15 hours Migrants: Italy Wants EU Border Agency In Africa, Not At Sea
  • 10 hours Oil and Trade War
  • 4 hours Lloyd's of London excludes coal
  • 10 hours Australia mulls LNG import
  • 11 hours Russia, Saudi Push For Big Hike In Oil Output Despite Iran Opposition
  • 11 hours Oil prices going down
Dave Forest

Dave Forest

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

More Info

Trending Discussions

"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


x


Back to homepage

Trending Discussions


Leave a comment

Leave a comment




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