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Informist, Wednesday, Feb. 4, 2026

 

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--Source: India eyeing pact to buy coking coal assets in Indonesia, Malaysia 
--Source:Indian team to visit Indonesia, Malaysia for mineral asset buy talks 
--Source: Team for mineral asset buy talks to visit Indonesia, Malaysia Feb 
--Source:Steel secy to lead team to Indonesia, Malaysia for mineral buy talks 
--Source: India to explore other mineral assets in Indonesia, Malaysia 
--Source:NMDC, some PSUs to join Indonesia, Malaysia mineral asset buy talks 
 

 

By Narayana Krishna

 

HYDERABAD – The Union Steel Ministry is likely to send a delegation of senior ministry officials and representatives of public sector companies to Indonesia and Malaysia by the end of this month to hold talks on acquiring, developing and producing coking coal and other mineral assets in the two countries, a source told Informist. The delegation is expected to be led by the steel secretary, the source said.

 

The steel ministry plans to include public sector undertakings such as NMDC Ltd., Steel Authority of India Ltd., and Khanij Bidesh India Ltd. in the delegation to take forward discussions on exploring opportunities to acquire mineral assets in the two countries, the source said. In addition to the mineral assets acquisition, the delegation is likely to explore partnerships as well as sourcing agreements for coking coal and rare earth elements, the source added. 

 

Ahead of the delegation's visit, the steel ministry has asked NMDC to float a separate company for critical minerals. Accordingly, NMDC has floated a subsidiary, NMDC Critical Minerals Ltd., and received approval from its board for the same. The new entity will focus on acquiring, exploring, developing and producing critical minerals in India and abroad to strengthen India's mineral security and self-reliance. The move aims to support long-term resource sustainability and strategic needs.

 

India has already identified certain mineral assets in both countries, and talks are at advanced stage for one or two assets, with an agreement likely to be finalised during the visit, the source said.

 

Indonesia is a key destination as it is among the world's largest producers of metallurgical coal and hosts significant reserves of minerals such as nickel and bauxite, offering India an opportunity to diversify coking coal supplies away from Australia, the source said.

 

Malaysia, while not a major coal producer, is an important hub for mineral processing and rare earth value chains, making it relevant for partnerships and sourcing agreements. 

 

At 1455 IST, shares of NMDC traded 5.45% higher at INR 86.10 on the National Stock Exchange. At 1457 IST, shares of SAIL traded 2% higher at INR 157.56.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Tanima Banerjee

 

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