Coal India plans Singapore trading hub in hunt for critical mineral assets, sources say

Business Recorder reported, citing two people familiar with the talks, that Coal India Ltd, the largest coal producer globally, is preparing a debut trading base in Singapore. The unit is intended to widen the company's activities into iron ore trading and into critical and strategic minerals. Coal India has sought registration from Singapore's authorities, and the office would also help with acquiring mineral assets overseas.

The initiative comes as Indian state-owned firms try to lock in overseas supplies of lithium and bauxite to lessen reliance on China, although such attempts have yielded little so far. Coal India is reportedly weighing bauxite projects in Ghana and elsewhere in Africa, as well as rare earths. For lithium it is concentrating on Chile, while Canada and Australia are under review, though the work is at an early stage.

The company has also started moving into iron ore mining after winning an Odisha block this month through a competitive auction. Earlier, Reuters said the company was weighing a deal for a unit owned by Canada's Wealth Minerals, which holds lithium assets in Chile. So far India has entered only one lithium exploration pact abroad, a 2024 deal for five Argentine blocks.