JSW Steel wins 5 mines in Karnataka, 1 in Jharkhand

JSW Steel
Iron ore mine

JSW Steel has won five iron ore mines in Karnataka with an estimated reserve of 111 million tonnes.The steel major has also secured Moitra coking coal mine through an auction in Jharkhand. The mine has total extractable coal reserve of around 30 MT.

The company has won five mines in the auctions of C- category iron ore mines in Karnataka. Two mines (0.71 MTPA capacity) will be operational by the first half of 2017-18 and the remaining three will be operational by the end of the fiscal. All five mines are expected to produce approximately 4.7 MTPA iron ore, JSW Steel said in its Annual Report 2016-17.

It is in the process of seeking all statutory clearances for a commencement of mining operations.The company believes this will enhance its raw material security.

The company is also striving to commence mining at the earliest while continuing to bid for more iron ore and coal mines.

Source: moneycontrol.com

Image source: MESCO

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