JSW Steel, India’s third-largest producer, is considering spending US$500M buying foreign coal mines to secure supplies for expansion at home.
According to the company’s MD Sajjan Jindal, JSW Steel is looking at mines in Australia, South Africa and other countries to secure half its requirements, after failing to find coking coal at its exploration project in Mozambique.The company plans to raise capacity by more than a third to 10 mt at its plant in South India by 2011, Jindal said....
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