Mumbai:JSW Steel Ltd expects approval for four domestic iron ore mines, securing lower-cost supplies for an expansion to lift capacity by at least 40%. “Mining may start this year at one of the sites pending final clearance from the forest department,” chief financial officer Seshagiri Rao said. “The mine near JSW’s Vijayanagar plant in Karnataka has reserves of about 60 mt. Licences for the remaining mines are in various stages of approval,” he said.
Rocklands’ takeover talks with Jindal end
Melbourne: Rocklands Richfield Ltd, an Australian coal explorer, fell the most in five months after ending takeover talks with Jindal Steel and Power Ltd, saying the Indian firm’s bid was commercially unacceptable. Rocklands, whose stock almost tripled in the past six months, dropped 22% on Wednesday, the biggest decline since 14 August.