October 4, 2026 - India’s Steel Ministry has directed state-owned companies Steel Authority of India Limited (SAIL) and NMDC to explore overseas mineral assets, strengthening efforts to secure the raw materials needed for the country’s expanding steel industry.

A senior ministry official confirmed the instruction in comments reported by Press Trust of India. The objective is to improve long-term supply security and contain input costs. No specific acquisition targets, investment amounts or completion deadlines were disclosed.

Coking coal is a central concern. Indian steelmakers depend on imports for approximately 85–90% of their requirements, despite the country’s substantial domestic iron ore resources. Overseas mine ownership could provide access to dedicated supplies, although individual projects would still require commercial evaluation.

The latest report follows earlier efforts involving Russia. In a June 25 release, India’s Ministry of Steel said SAIL and NMDC were exploring coking-coal acquisitions and nickel supplies following a delegation’s visit to Russia in May. SAIL established an internal committee to evaluate opportunities, while NMDC was examining overseas coal assets.

India’s steel expansion plans reinforce the importance of securing additional supplies. Reuters reported September 29 that a draft national steel policy targets 600 million metric tons of annual steelmaking capacity by 2047, compared with approximately 220 million currently. The draft projects coking-coal demand reaching 214 million metric tons and identifies overseas acquisitions and diversified sourcing as priorities.

SAIL is also evaluating alternative coal suppliers. Reuters reported September 30 that the company imported a one-metric-ton sample of Mongolian coking coal by air for testing. Any long-term purchases would depend on its suitability and the cost and practicality of transportation.

The sourcing push also has implications for American metallurgical-coal producers. Analysts cited by Reuters expect Indian imports from the United States, Russia and Mozambique to increase, while Australia remains the largest supplier.

However, the October 4 report identifies no new U.S. mine acquisition or supply agreement. The development represents a continuing effort to secure overseas raw materials as India prepares for greater steelmaking demand.