Ann: India Project Funding Facility, page-68

Last Thursday (4/1) saw Indian Parliament receive a report from the Ministry of Steel, regarding SAIL (Steel Authority of India Ltd)

Here's an abbreviated edit to make my point...

2.44  When asked about the steps taken by the company to meet the challenge of increasing coking coal costs including R&D activities undertaken to substitute coking coal with any other product, the Ministry in its written reply informed the Committee as follows:

"R&D activities undertaken to substitute coking coal has been aimed at improving coke quality to facilitate increased use of auxiliary fuels in the blast furnace like Coal Dust Injection (CDI), tar etc. to reduce coke rate/ coking coal consumption."

"R&D efforts have also been taken in mines & sinter plant to improve Raw material & sinter quality...'

In other words, India's Govnt-owned, & largest producer of steel, can not find an alternative to increasingly expensive coking coal. Instead they're wasting fortunes trying to upgrade India's low quality rubbish, when our  Matmor process requires no coking coal, whatsoever, to make steel.

Perhaps this is why the Secretary of the Ministry of Coal, believes our proposed Coldry / Matmor plant may potentially be a project of national significance.

Roll on a couple of years: If proven, and we have found the cure for cancer, does anyone believe the rest of the Indian, or wider, steel Industry will still be working hard on their chemotherapy upgrades?

All IM
GLTA Investors.

http://164.100.47.193/lsscommittee/Coal & Steel/16_Coal_And_Steel_37.pdf
https://sail.co.in/company/about-us
http://www.ectltd.com.au/india-proj...inancial-review-first-draft-report-submitted/