At Coaltrans conference in India this March -  Anutosh Maitra - Managing director of state owned SAIL's Bokaro plant said he was looking to increase met coal purchases from sources other than Australian.  He is planning to double imports from the US starting in 2013  India is looking to increase steel making capacity to 150 million mt / yr by 20217 -  making India the second largest steel producer in the world.  I hope SAIL is included as part of their connections. 

I think the Portpool guys are going to make a killing on this transaction, hope s/p can recover and trade north of a buck after dilution and allow cthe longs to make a modest profit