India Plans to Boost South African Imports of Gold, Coal, Gems and Metals

Bloomberg.com reports that Indian-run MMTC will increase imports of gold, coal, diamonds and metals from South Africa to meet demand.

The story is quoted as saying:

Indian demand for South Africa’s coal contributed to Asia overtaking Europe in 2009 as the largest shipping destination for the fuel used in power plants. Last year, Richards Bay Coal Terminal Ltd., which ships most of South Africa’s coal, sent 59 percent to Asia and a quarter to Europe. India imported about 800 tons of gold last year, making it the world’s largest buyer.

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