NMDC Eyes Canadian Coal Reserves to Drive Steel Growth

As per Reuters, India’s state-run miner NMDC is exploring coal reserves in Canada to support domestic steel manufacturing, Steel Minister H.D. Kumaraswamy said on Thursday. The remarks followed a bilateral meeting with Canada’s Minister of Natural Resources Tim Hodgson, according to a government statement. 

The meeting discussed cooperation in critical minerals, clean mobility, advanced manufacturing and sustainable industrial development. 

Securing Coking Coal and Other Inputs 

India is seeking stable supplies of key raw materials, including coking coal, lithium, cobalt and rare earth elements, as it expands steel production and moves towards cleaner energy systems. Coking coal is a core input for blast furnace steelmaking, and India imports most of its requirements due to limited domestic reserves. 

Canada is a producer of metallurgical coal and has deposits of minerals used in industrial manufacturing and energy-related applications. 

Steel Expansion and Supply Chain Considerations 

India is planning to increase steel manufacturing capacity to meet demand from infrastructure, construction and manufacturing sectors.  

As output targets rise, securing long-term access to raw materials has become a priority for state-run firms and policymakers. 

Exploring overseas coal assets forms part of plans to diversify sourcing and reduce reliance on international spot markets, which can be affected by price swings and supply disruptions. 

Critical Minerals and Energy Transition 

The government statement said India is also looking to secure lithium, cobalt and rare earth elements, which are used in batteries, renewable energy systems and other clean technology applications. The bilateral discussions with Canada included cooperation across mining, manufacturing and clean technology supply chains. 

Both sides discussed possible collaboration in resource development and industrial materials, though no specific projects or timelines were disclosed. 

Read More: KPI Green Energy Share Price in Focus; Begins Power Supply from 200 MW Solar Project Awarded by GUVNL! 

NMDC Share Price Performance  

As of January 30, 2026, 9:40 am, NMDC share price was trading at ₹81.25, a 3.96% down from the previous closing price. 

Conclusion 

NMDC’s interest in Canadian coal reserves shows India’s plans to secure raw materials for steel production while engaging with Canada on critical minerals and industrial cooperation. The talks indicate ongoing attempts to diversify supply sources for manufacturing and energy-related sectors. 

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