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Naveen Jindal-promoted Jindal Steel, one of the largest steel producers in the country, will strategically diversify its coking coal sources to reduce geographical risks and cost pressures. The company will decrease its reliance on Australian coking coal imports while procuring from other regions across Africa and Southeast Asia.
Jindal Steel has incorporated new coking coal supplies from Africa and Southeast Asia, it said in a statement, adding that “this initiative has significantly reduced consumption of Australian coking coal by more than 50 per cent.”
According to Pankaj Malhan, Executive Director-in-Charge of Jindal Steel, Angul, diversifying coking coal sources was imperative due to global uncertainties and supply chain disruptions.
“By reducing reliance on Australian coking coal imports and increasing intake from other regions, we’ve strengthened our supply chain and improved cost efficiency. Our coke oven team (has) develop(ed) new blends and is producing higher-quality coke at a lower cost,” he said.
Jindal Steel is looking at further diversification (of coking coal sources) in the coming months, it said in the statement.
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