intrinsic value, page-3

The following is from Bloomberg news today just the relevant part I am posting: Iron Ore Jindal Steel is looking at acquiring iron ore mines in Africa, Ukraine, Indonesia and Australia and a deal may be signed before the end of the calendar year, Maroo said. It’s simultaneously looking at coking coal assets in Indonesia and Australia to meet needs at its steel units. “We’ve got thermal coal mines hence the intensity for buying iron ore and coking coal is more,” Maroo said. “The iron ore mine will be linked to our steel mill in Oman.” The company will start shipments of semi-soft coking coal produced at its mine in Mozambique, with first exports of 50,000 tons to India next quarter, Maroo said. The target is to produce as much as 1 million tons of the steelmaking ingredient, he said. “We are looking at smaller deals of between $20 and $200 million in greenfield iron ore mines and are in talks with multiple companies,” Maroo said. “The investment will be large over a period of time as we will need to spend money in technology, exploration and infrastructure.”