India Eyes Direct Stakes in Russian Mines for Long-Term Resource Security

India is actively pursuing direct ownership stakes in Russian mines, signaling a major push to secure critical raw materials for its booming steel industry.

Indian Steel Ministry Secretary Sandeep Poundrik told TASS that India wants to move beyond simple imports: “We want to cooperate both in procurement and imports, as well as through the participation and investment of Indian companies in Russia.

We want Indian companies to come to Russia and invest in coal mining and other mining projects.”

Poundrik emphasized that any investments would prioritize not just the size of reserves but also “long-term supply security.”

With India’s steel production surging and heavy dependence on imported coking coal, this move aims to diversify sources, reduce reliance on Australia, and strengthen the India-Russia strategic partnership through joint projects, including potential investments in coal, nickel, manganese, and other minerals essential for steelmaking.