Coal India Plans Singapore Trading Hub For Critical Minerals
COAL & MINING

Coal India Plans Singapore Trading Hub For Critical Minerals

Coal India Limited (Coal India) has applied to Singapore authorities to register its first overseas trading office as it seeks to diversify into trading iron ore and critical and strategic minerals. The Singapore office will also be intended to support efforts to acquire mineral assets overseas and to underpin the company's expanding commodity trading activities. The move follows a wider push by Indian state firms.

Company officials involved in discussions, who asked to remain unnamed, indicated that the hub would help Coal India evaluate and pursue mineral opportunities in several regions, including bauxite assets in Ghana and other parts of Africa and rare earth minerals. For lithium the miner is reported to be focusing on Chile while also assessing opportunities in Canada and Australia. These opportunities are at a preliminary stage according to the information reviewed.

Coal India has already begun to diversify into other mineral sectors and in August won an iron ore block in the eastern state of Odisha through a competitive auction, marking an entry into iron ore mining. Reuters has reported that the company is considering acquiring a unit of Canada's Wealth Minerals which holds lithium mining assets in Chile, a potential source of a key battery metal used in electric vehicles and energy storage. Success abroad has been limited to date.

India has so far signed one overseas lithium exploration and mining pact covering five blocks in Argentina in 2024, and Coal India's move to establish a trading hub in Singapore forms part of a broader strategy to secure strategic mineral supplies for the country's clean energy and manufacturing ambitions. Coal India did not immediately respond to requests for comment and the proposed hub will be subject to regulatory approval.

Coal India Limited (Coal India) has applied to Singapore authorities to register its first overseas trading office as it seeks to diversify into trading iron ore and critical and strategic minerals. The Singapore office will also be intended to support efforts to acquire mineral assets overseas and to underpin the company's expanding commodity trading activities. The move follows a wider push by Indian state firms. Company officials involved in discussions, who asked to remain unnamed, indicated that the hub would help Coal India evaluate and pursue mineral opportunities in several regions, including bauxite assets in Ghana and other parts of Africa and rare earth minerals. For lithium the miner is reported to be focusing on Chile while also assessing opportunities in Canada and Australia. These opportunities are at a preliminary stage according to the information reviewed. Coal India has already begun to diversify into other mineral sectors and in August won an iron ore block in the eastern state of Odisha through a competitive auction, marking an entry into iron ore mining. Reuters has reported that the company is considering acquiring a unit of Canada's Wealth Minerals which holds lithium mining assets in Chile, a potential source of a key battery metal used in electric vehicles and energy storage. Success abroad has been limited to date. India has so far signed one overseas lithium exploration and mining pact covering five blocks in Argentina in 2024, and Coal India's move to establish a trading hub in Singapore forms part of a broader strategy to secure strategic mineral supplies for the country's clean energy and manufacturing ambitions. Coal India did not immediately respond to requests for comment and the proposed hub will be subject to regulatory approval.

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