from my earlier post quoting a Sydney Morning Herald article:-
"...Research by Arvind Mahajan, an analyst with KPMG in Mumbai, estimates India's coal shortfall will reach 189 million tonnes by 2015.
A separate report by Sanjay Mookim of Credit Suisse puts the deficit at 150 million tonnes by 2017.
Unless India can vastly increase domestic production, it will have to import large volumes to keep steel plants and power stations running.
"It is safe to argue that importing such large quantities of coal can be challenging for India and this could have a significant impact on global coal prices," Mr Mookim writes.
Mr Mahajan expects India will need to import up to 150 million tonnes of coal in 2015, or 154 per cent more than it imported in 2008-09.
Coal prices are likely to rise, Mr Mahajan says, especially if the global economy picks up and additional coal supply expected from Africa fails to materialise.
India is looking to coal-producing countries such as Indonesia and South Africa, but Australian coal will also be in strong demand..."
RIV Price at posting:
$9.50 Sentiment: Buy Disclosure: Held
