JSW doubles steel output on back of increased iron ore supply
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India-based steelmaker JSW Steel (JSW) has nearly doubled steel production at the beginning of this month as it secured more iron ore from a court-mandated auction on October 4 in the south Indian state of Karnataka.
JSW Steel has faced an acute shortage of iron ore over the past couple of months as India's Supreme Court banned iron ore mining in three districts in Karnataka to prevent illegal and excessive mining. Since then, JSW Steel has relied on a court-appointed auction system to procure iron ore.
In September, JSW Steel had almost completely exhausted its iron ore stocks.