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A billion-dollar coal deal in JSW Steel's sights
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Icra. “Therefore, access to captive sources of raw materials can benefit steel makers in terms of both availability as well as better control on costs," he said.
Among Indian steelmakers, Jindal Steel and Power, with an inves-tment in Wollongong Coal Ltd in Australia, has access to coking coal through two mines. Despite production challenges, the company is working to ramp up output to use the assets as a hedge against volatile coking coal prices.
The Adani Group is another Indian business to have assets Down Under, where it mines for coal. The country has attracted a lot of global resources majors owing to its thriving mining industry, with minerals accounting for three-fourths of the company’s total exports.
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