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JSW Group May Acquire Coking Coal Mines In Offshore Markets
JSW's coking coal mine acquisition will help India to reduce its coking coal needs, which are largely from Australia, South Africa, Canada and the US
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Multinational conglomerate JSW Group may acquire coking coal mines in offshore markets, suggest official media reports on Sunday.
JSW Group has not yet confirmed the acquisition officially. Reports however claim the steel manufacturer’s attempt is to reduce its cost of producing steel.
It added the conglomerate is even exploring mineral assets in countries like Australia and Mozambique etc.
Meanwhile, if JSW acquires the coking coal mine it will help India to reduce its coking coal needs, which are largely from Australia, South Africa, Canada and the US.
JSW Group is among India’s largest steel manufacturing units that require coking coal as a key raw material.