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JSW Steel open to acquiring operating coking coal mines
Industry News- Aug 26,24
Earlier this month, JSW Steel announced its acquisition of a 66.67% economic interest in M Resources NSW.
JSW Steel is open to acquiring operating coking coal mines as part of its ongoing strategy to enhance raw material security for its expanding steel operations, provided the deal makes both commercial and strategic sense. Jayant Acharya, Joint Managing Director and CEO, JSW Steel, highlighted this approach following the company's recent investments in international coking coal assets.
Earlier this month, JSW Steel announced its acquisition of a 66.67% economic interest in M Resources NSW, which holds a 30% stake in a joint venture set up to acquire the Illawarra Metallurgical Coal business from South32 Limited. The upfront investment for JSW in this deal is $120 million.
(Business Standard)
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