JSW Group, an Indian conglomerate, has joined the competition to acquire two coal blocks in Australia that are being sold by BHP Corporation. The auction has attracted interest from various companies including Nippon Steel, Posco, and Glencore. JSW is the sole Indian participant in the bidding process. The coal blocks in question, Daunia and Faunus mines, are situated in Queensland's northeastern region. They have a combined annual capacity of 20 million tons, with the majority being coking coal and the remainder being thermal coal. Interested parties are expected to submit preliminary bids in the coming weeks.
JSW Group is actively pursuing expansion and requires an increased supply of raw materials. In February 2023, the company began establishing Utkal Steel plants in Jammu and Kashmir and Kadapa Steel Plant in Andhra Pradesh. Furthermore, JSW has recently acquired several iron ore deposits to ensure a steady supply of raw materials and has made investments in the development of a new coking coal deposit in Jharkhand.
At present, JSW operates 13 coal mines and a lignite mining facility in India, along with one coal mine each in Mozambique and the United States.
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