JSW Group explores acquiring of coking coal mines in offshore markets

JSW Group, a prominent homegrown firm, is actively exploring opportunities to acquire coking coal mines in offshore markets, according to industry sources. The steel-to-infrastructure group is targeting mineral assets in countries such as Australia and Mozambique. The acquisition of captive coking coal mines would enable JSW Steel, a subsidiary of JSW Group, to reduce its production costs and enhance its steel manufacturing capabilities. Currently, India heavily relies on imports to fulfill approximately 85% of its coking coal requirements, with distant countries like Australia, South Africa, Canada, and the US being the major sources. JSW Steel, being one of India's leading steel manufacturers, relies on imports for 60% of its coking coal needs.