India’s coal giant looks beyond China with rare earth push across Africa and the West

Rare earths are critical inputs for advanced manufacturing, clean energy, and defence technologies, sectors that are increasingly central to both Asian and African growth ambitions.

Manoj Kumar Agarwal, chairman and managing director of Bharat Coking Coal Ltd, Coal India’s coking coal-focused unit, said the company is exploring investments and collaborations at an early stage, both within India and overseas.

He noted that discussions are underway with other firms as New Delhi seeks to secure alternative sources of the minerals.

Domestically, the company plans to work with state-owned entities, including IREL, Khanij Bidesh India Ltd, and Hindustan Copper, signalling a coordinated public sector push into critical minerals.

Funding for the expansion will come from the proceeds of BCCL’s recently completed initial public offering, which raised about $119 million.

Beyond rare earths, BCCL is also eyeing acquisitions of coking coal mines in Australia and Russia within the next two to three years.

Agarwal said the company aims to lift coking coal production capacity to 56 million tonnes per year by the 2030 financial year, up from 40.5 million tonnes at the end of the 2025 financial year.

Investors are betting that India’s infrastructure drive, and the resulting demand for steel, will underpin long-term growth, with implications for resource-rich African economies seeking new global partners.