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JSPL Update on Global Ventures

Steel News - Published on Wed, 27 May 2020

Image Source: Jindal Shadeed
During 4QFY20, Jindal Shadeed recorded production of 0.57 million tonnes of steel as against 0.45 million tonnes in 4QFY19. Oman business reported revenues at USD 268 million and EBITDA at USD 63.8 million. For the financial year ending March’20, Jindal Shadeed reported production at 1.87 million tonnes and sales at 1.88 million tonnes. The Revenues and EBITDA for FY20 came at USD 910 million vs USD1019 million in FY19 and USD 138 million Vs USD 181 million in FY19 respectively.

Mozambique: During this quarter, the mine at Chirodzi produced 591KT ROM up 14% YoY. The Mozambique operations continued to ramp up production this year and ended FY20 at 2.5 million tonnes,rise of 47% compared to 1.71 million tonnes in FY19. Mozambique operations reported EBITDA at USD 2 million for 4QFY20 and USD10.4 million for FY20.

Australia: During 4QFY20, both Wongawilli & Russell Vale mines remained under care & maintenance. In the reported quarter, JSPAL and WCL pursued their restructuring proposal with the NSW Supreme Court to restructure the debt and make it more sustainable. WCL continues to work towards securing the approval for its Russell Vale mines.

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Posted By : Yogender Pancholi on Wed, 27 May 2020
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