Minerals Trading business crosses 1 million MT of traded coal in Q1 FY15
August 31, 2014
Tata International’s Minerals Trading business crossed the milestone of 1 million MT of traded coal for the first quarter of FY 2014-15 and emerged the best performing business vertical.
MD Mr NN Tata said “Minerals has been the star performer of the quarter. The division has already crossed a million tons of traded coal this year and is slowly making its presence felt in the Indian market. My congratulations to Fred and his team.” The business, led by Mr Alfred Egli, has a globally dispersed team operating out of India, Singapore, Indonesia, China, Switzerland and Hong Kong.
Having traded a little less than 1 million tonnes of coal in FY 2012-13, the business started FY 2013-14 with higher expectations and achieved volumes of 2.2 million tonnes. Reaching the milestone in the first quarter of FY 2014-15 indicates that the business is well on track to achieving its annual target.
TIL supplies thermal coal to customers in India and China. Being open to opportunity-based business in all geographies, the plan is to focus on customers in China, Thailand and Malaysia and to step up sourcing from South Africa, Mozambique and Australia.
TIL also has trading desks of iron and manganese ores, ferro-alloys and base metals. Shipments of manganese ore and flakes, iron ore and tin metal are executed regularly. The recently secured long-term tolling arrangement for tin is expected to strengthen TIL’s presence in the base metals business.
Long-term contracts for coal supply directly from mines allow the business to develop a stable supply chain. A healthy order book is buoying the spirits of the TIL team as well as of suppliers. The business is also looking at developing value-added offerings for customers.