Homegrown firm JSW Group is exploring possibilities to acquire coking coal mines in offshore markets, industry sources said. The steel-to-infrastructure group is exploring the mineral assets in countries like Australia and Mozambique etc, they said.
"JSW Group is exploring possibilities to acquire coking coal mines in offshore markets like Mozambique, Australia etc for captive purposes," sources said.
Captive coking coal mines will help group company JSW Steel reduce its cost of production for manufacturing steel, they explain..
Specifically, JSW Steel meets 60 per cent of its coking coal requirement via imports. JSW Steel is among India's top six steel manufacturing companies.
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