india's jindal looking at coal, iron-ore proje

India's Jindal looking at coal, iron-ore projects - chairperson

By: Reuters
21st June 2012

NEW YORK – India's Jindal Steel & Power (JSPL) has started looking at coal and iron-ore projects in South America, Africa and Australia as part of its aim to increase its self sufficiency in steel raw materials, the company's chairperson and managing director told Reuters on Wednesday.

The company wants to raise its raw materials self-sufficiency level to between 80% and 90% percent by 2015 from 70% currently, Naveen Jindal said in an interview on the sidelines of the AMM Steel Success Strategies conference.

His comments come just a week after the company gave the Bolivian government notice to terminate its $2.1-billion iron-ore and steel investment in the country due to the lack of support from the Bolivian government.

Edited by: Reuters

http://www.miningweekly.com/article/indias-jindal-looking-at-coal-iron-ore-projects---chairperson-2012-06-21