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JSW Steel to Increase Captive Iron Ore Capability

Steel News - Published on Tue, 26 May 2020

Image Source: JSW Steel Captive Iron Ore
The Telegraph reported that JSW Steel, which could only manage4.11 million tonne, about 15 per cent of iron ore requirement, from captive sources is set to change. JSW Steel Joint Managing Director & CFO Mr Seshagiri Rao said “This year the captive source of iron ore will be nearly 50 per cent. We have three more mines in Karnataka where availability is going up from 4 million tonne to 7 million tonne. We got four mines in Odisha through a recent bidding, where there is environment clearance up to 29 million tonne. We want to make them operational by July.”

According to the conditions in the tender, the company has to produce 80 per cent of the last two years’ average production, which stood at 20 million tonne, from the Odisha mines. Accordingly, it has to produce 16 million tonne which it plans to do this year, proportionate from July. Consequently, it is on course to lift at least 12 million tonne from the Odisha mines and about 7 million tonne from Karnataka in 2020-21. Going forward, it can ramp up to 29 million tonne from Odisha when Dolvi expansion comes on stream and Bhushan Power and Steel Ltd comes under the JSW’s fold.

Only Tata Steel and SAIL run fully integrated operations in India, sourcing 100 per cent of iron ore from their own mines, giving the duo complete control over the sourcing of the basic raw material.

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Posted By : Yogender Pancholi on Tue, 26 May 2020
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