JSW Steel to acquire major stake in Australia?s Blackwater coal mine

Media sources indicate that JSW Steel, a prominent player in the industry, is engaged in discussions to secure a 20% interest in Australia's Blackwater coal mine, with an speculated expenditure of Rs 82.9 billion. Despite the absence of a finalised valuation, it is anticipated that the transaction will conclude by the end of the fiscal year. According to reports from Australian media outlets, the Blackwater mine, previously under the ownership of BHP Mitsubishi Alliance, is appraised at Rs 232.7 billion. The current valuation purportedly represents 78.1% of the aggregate sum paid by Whitehaven Coal for both the Blackwater and Daunia coal mines. Whitehaven, having recently acquired the mine, is seeking to divest a 20% stake amidst labor disputes over compensation with its workforce.