-
India nears agreement with Mongolia for copper and coking coal supply
India is set to finalise a preliminary agreement with Mongolia in the field of geology and exploration. This mining pact aims to secure copper and coking coal supplies that are crucial to meet growing demand in India’s power, construction and steelmaking sectors, according to a report by Reuters, citing sources. Landlocked Mongolia is rich in copper and coking coal deposits, while India is largely dependent on imports for these resources. An official said: “India’s cabinet has approved the MOU [memorandum of understanding], and both countries are expected to sign it soon.” Requests for comment from India’s ... (full story)