India’s third-largest steel producer, JSW Steel Ltd., expects approval for four domestic iron ore mines as part of plans to secure supplies for a 40 per cent expansion in output..
Three of the licences were said by the company to be at “various stages” of approval although mining is ready to start at a fourth, near to JSW’s Vijayanagar plant in southern Karnataka state which has reserves of about 60 million metric tons
JSW aims to expand steel capacity to 11 million tons by March 2011. The company sources about 20 percent of its iron-ore needs from its own mines in India and plans to start a 3 million ton a year mine in Chile by the end of next year. About 40 percent of its iron-ore requirement is bought from state-owned NMDC Ltd., India’s largest producer, and a similar quantity from private miners.
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