Miners are seeking to revive iron ore exports to India after plummeting over the past five years as they join Anthony Albanese for a high-powered political and business delegation.
Miners are seeking to revive iron ore exports to India after plummeting over the past five years as they join, Mumbai and New Delhi.
“We will be talking about new industries and opportunities that Australia has, whether it be provision of lithium and other materials that are important for the shift to renewables, the growth of areas like green hydrogen presents enormous opportunities.“India is a driver of new technology and innovation and there is a great scope for Australia and India to co-operate as we both transition for clean energy.
Similar to its purchases of Russian oil, India has taken advantage of the sanctions over Vladimir Putin’s invasion of Ukraine to snap up heavily discounted iron ore, increasing purchases by 40 per cent last year, according to the Department of Industry, Science and Resources’ December 2022While India has extensive reserves of iron ore, demand for steel is expected to grow by about 5.5 per cent annually to the end of next year as its economy develops.
She defended the prospect of higher LNG sales to India, saying New Delhi was trying to increase the use of gas because it had lower emissions than coal. Uranium sales were not on her agenda, she said. The Gillard Labor government courted controversy a decade ago when it lifted a ban on uranium sales to India, which is not a signatory to the nuclear non-proliferation treaty.Ms Slattery said India was an important and growing market for BHP, which now supplies a third of the country’s metallurgical coal.
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