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Indian JSW Steel buys iron ore reserves

Indian company JSW Steel has won the auction for the sale of its Jaisinghpura iron ore reserve in Karnataka state.

Indian JSW Steel buys iron ore reserves

With this purchase, JSW Steel will have a unit with an explored resource volume of 32.08 million tons of iron ore.

Representatives of JSW Steel said they received a letter from the Mines Bureau with permission to prepare work and start mining on the mineral reserve.

The company plans to further expand its iron ore and coking coal production. To do so, JSW Steel purchased two coking coal reserves in the state of Jharkhand and one in the state of Chhattisgarh at a state auction.

The new resources will not only meet the company's raw material and energy needs, but will also help bring new capacities into operation. The company will establish new businesses especially in Kashmir and Andhra Pradesh.

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