If we get operating coking coal mine, will look at it: JSW Steel's Acharya

JSW's economic interest in the coking coal asset would be about 20 per cent, said Jayant Acharya, joint managing director, JSW Steel

Even after announcing investment in two international coking coal assets, JSW Steel may continue to sniff around for an operating mine as part of a broader strategy to beef up raw material security for a fast-expanding steel business. The caveat, however, is that it has to make “commercial and strategic sense”.

Earlier this month, JSW Steel announced acquisition of a 66.67 per cent economic interest in M Res NSW, which owns a 30 per cent stake in a joint venture formed to acquire the Illawarra Metallurgical Coal business of South32 Limited. The upfront investment for JSW is