BHP expects Indian steelmaking boom to drive its coal business - FT - Reuters
BHP expects Indian steelmaking boom to drive its coal business - FT | Reuters
BHP expects Indian steelmaking boom to drive its coal business - FT
July 31 (Reuters) - BHP Group (BHP.AX) expects the rampant expansion of India's steel industry to boost its coal business significantly, Chief Commercial Officer Vandita Pant told the Financial Times on Monday.
Around 40% of BHP's metallurgical coal, used by steel mills and known as coking coal, is now heading to India, she said.
(This story has been corrected to fix Vandita Pant's designation to group CCO from India CCO in paragraph 1)
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Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”