India has a growing appetite for British Columbia coal, according to Karina Brino, President of the Mining Association of B.C., adding to existing interest from Japan and China.
Representatives of the Indian government, including Indian Steel Minister Beni Prasad Verma, were in B.C. in early July meeting with Premier Christy Clark, International Trade Minister Teresa Wat, and a who’s who of coal industry representatives.
According to reports, Indian officials claim their demand for coal will double by 2017, with 47 million tonnes of additional product needed every year.
Brino told
The Vancouver Sun’s Gord Hoekstra, “Definitely this is not an opportunity that industry is going to pass on. And the more conversations and more we get to know each other on how we do business and how to collaborate is something our members will be pursuing.”
Teck Resources (
T.TCK.A,
NYSE: TCK,Stock Forum) spokesman Chris Stannell told Hoekstra, “As the Indian economy and middle class continues to grow, demand for products Teck produces, like copper, zinc and steelmaking coal, will grow in tandem.”
B.C. government officials did not publicise the visit, which Wat reportedly called ‘an oversight.’
India is the fourth larges steelmaker in the world.