- Write by:
-
Wednesday, January 8, 2020 - 10:25:16 AM
-
657 Visit
-
Print
Mining News Pro - The world’s biggest miner BHP is looking to India’s fast-growing economy and its accelerating steelmaking output as a way to help offset the declining Chinese coal demand in the new decade, The Sydney Morning Herald reported.
According to Mining News Pro - China’s consumption of iron ore and coal – key steelmaking ingredients and Australia’s two top exports – led to a windfall in 2019 for the world’s top miners and added a boost to the Australian government’s federal budget.
But Chinese demand is projected to ease in the face of lower margins, weakening global growth and the ongoing US-China trade war.
Meanwhile, BHP projects Indian steelmaking is on course to grow by 7% per year over the next decade. India’s yearly output of over 100 million tonnes of steel has now surpassed Japan to become the world’s second-largest steelmaking country.
“A lot of other markets are big but mature,” BHP vice-president of market analysis Huw McKay told the paper.
“India is big but it’s barely got started.”
Short Link:
https://www.miningnews.ir/En/News/469431
![Colombia halts coal exports to Israel over Gaza war](/Incsys/Photo.aspx?image=/Uploads/News/20240615010157792.jpg&width=236&height=180)
Colombia’s President Gustavo Petro on Saturday said the country, which is reported to be Israel’s biggest supplier of ...
![German coal company to get about €1 billion for shutting mines](/Incsys/Photo.aspx?image=/Uploads/News/20240606202604061.jpg&width=236&height=180)
Germany’s second largest coal miner is likely to receive in the region of €1 billion ($1.1 billion) in compensation for ...
![Glencore’s climate action plan wins more support from shareholders](/Incsys/Photo.aspx?image=/Uploads/News/20240606202119181.jpg&width=236&height=180)
A majority of Glencore investors have indicated they were satisfied with the commodities giant’s plans to reduce carbon ...
![Anglo starts formal divestment of coal, nickel after rebuffing BHP](/Incsys/Photo.aspx?image=/Uploads/News/20240606201317696.jpg&width=236&height=180)
Anglo American is starting a formal process to sell its coal assets and explore options for its nickel operations after ...
![How a rattled South Africa became Anglo’s best defence against BHP bid](/Incsys/Photo.aspx?image=/Uploads/News/20240606200122274.jpg&width=236&height=180)
Days after miner BHP launched its takeover bid for rival Anglo American in April, the CEOs of both headed for South ...
![Glencore to consult investors on coal spinoff after Teck deal](/Incsys/Photo.aspx?image=/Uploads/News/20240606195712665.jpg&width=236&height=180)
Glencore Plc will start consulting with shareholders on the future of its coal business as soon as its deal to buy Teck ...
![Glencore to consult investors on coal spinoff after Teck deal](/Incsys/Photo.aspx?image=/Uploads/News/20240601222127287.jpg&width=236&height=180)
Glencore Plc will start consulting with shareholders on the future of its coal business as soon as its deal to buy Teck ...
![Glencore to consult investors on coal spinoff after Teck deal](/Incsys/Photo.aspx?image=/Uploads/News/20240601221722175.jpg&width=236&height=180)
Glencore Plc will start consulting with shareholders on the future of its coal business as soon as its deal to buy Teck ...
![Mongolia defends plan to tap mining riches for new sovereign wealth fund](/Incsys/Photo.aspx?image=/Uploads/News/20240601221221812.jpg&width=236&height=180)
Mongolia’s prime minister defended changes to the country’s mining laws after foreign investors raised concerns they ...
No comments have been posted yet ...