• 4 minutes Solar to Become World's Largest Power Source by 2050
  • 7 minutes Exxon Aims For $15-a-Barrel Costs In Giant Permian Operation
  • 12 minutes Read: OPEC WILL KILL US SHALE
  • 16 minutes U.S. Shale Output may Start Dropping Next Year
  • 10 hours Why U.S. Growers Are Betting The Farm On Soybeans Amid China Trade War
  • 5 mins Trump to Make Allies Pay More to Host US Bases
  • 8 mins Tidal Power Closer to Commercialisation
  • 13 hours THE DEATH OF FOSSIL FUEL MARKETS
  • 21 hours Can OPEC CUT PRODUCTION FOREVER?
  • 18 hours Sounds Familiar: Netanyahu Tells Arab Citizens They’re Not Real Israelis
  • 1 day European Parliament demands Nord-Stream-ii pipeline to be Stopped
  • 19 hours US-backed coup in Venezuela not so smooth
  • 1 day War on Emissions Gains Traction
  • 13 hours Washington Eyes Crackdown On OPEC
  • 27 mins Biomass, Ethanol No Longer Green
  • 18 hours this is why Climate Friendly Agendas Tread Water
Alt Text

This Supermajor Is Leading The Energy Sector

This supermajor has been standing…

Alt Text

How To Play A Recovery In Oil Prices?

A realistic correction in the…

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




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




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