Concerned over rising coking coal prices and insecurity of supplies, Steel Minister Ram Vilas Paswan on Saturday asked public sector steel producers to scout for mines abroad.
"We have asked our undertakings to make arrangements for securing mines wherever possible including overseas locations," Paswan told reporters here after undertaking a review of PSUs under his charge.
Paswan said there was need to reduce dependence on external sources for coking coal supplies in light of recent crisis.
The minister said he would soon hold talks with Coal Minister Shibu Soren to depute a senior official from the ministry to help organise the effort.
He said the spurt in prices of the raw material witnessed during the past few months was largely due to lack of domestic sources besides shortages owing to collapse of mines in neighbouring China.
SAIL currently uses 13 million tonnes of coking coal annually of which 4 million tonnes is procured domestically while the rest is imported.
On restoration of DEPB benefits for exports and other budget related demands, he said the ministry would take inputs from steel industry and give its recommendations to the commerce and finance ministries.
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