JSW Steel Ltd, India's biggest local steelmaker, aims to be producing 80 percent of the iron ore needed for its flagship plant in south India in three years time as it seeks to cut costs, a senior executive said. The company expects to begin producing ore from mines it won in a recent auction in the southern state of Karnataka by March, at an annual run rate of 4.7 million tonnes, Deputy Managing Director Vinod Nowal said, adding that it was also planning to bid for more mines in an upcoming auction. "A higher degree of reliance on our own mines will help in long-term ...
JSW Steel aims to to increase own iron ore production
The company expects to begin producing ore from mines it won in a recent auction
Promit Mukherjee | Reuters |