JSW Steel pursuing global coal mining assets

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

30 Jan 2010

India's third-largest steel maker JSW Steel Ltd is aggressively pursuing coal mining assets in Australia, the United States, Canada, Russia and Mongolia, executive director Tuhin Mukherjee said on Friday. "We are actively looking for good quality coal mining assets," he said. "Investment bankers are approaching us and we are also doing direct buyer-seller talks."
Asked if the negotiations were at an advanced stage, Mukherjee declined comment.
He said the company now primarily imports its coking coal needs from Australia, but it is targeting to meet 50% of supplies through its own internal sources, including buying up global mining assets.

Source: Reuters