Indian steelmaker JSW Steel is considering acquiring coal mines in Africa, the US and Canada, according to India-based news agency Press Trust India (PTI).
A JSW Steel official stated that the company needs to own mines to reduce costs, as it "expands aggressively". However, the company is also cautious about overseas acquisitions as its past experience has not been positive. JSW Steel's strategy requires the company to have its own raw material through its own captive mines. JSW Steel is also reported to have bid for 18 C category mines in Karnataka.
Source:
http://www.steelorbis.com/steel-news/latest-news/jsw-steel-mulls-acquisition-of-coal-mines-in-africa-us-and-canada-761490.htm
