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JSW Steel to infuse Rs 2,000 crore in new coking coal mine

Friday, 17 Mar 2023
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JSW Steel intends to invest Rs 2,000 crore in the development of a new coking coal mine in Jharkhand. The company has been declared the highest bidder for the recently auctioned coking coal mine, and it is awaiting official announcement from the government.

JSW Steel anticipates that the new mine will be operational in two-three years. The mine has approximately one billion tonne of reserves, similar to the company's Moitra coking coal mine in the same state.

Currently, JSW Steel operates four mines in Odisha, nine in Karnataka, one in Rajasthan, and one each in Dubai and the United States.

The company’s mission in coking coal is to achieve 25-50 percent backward integration. JSW Steel also intends to increase captive iron ore sourcing to 100 percent from the current level of 50 percent. 

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