India’s JSW Steel Limited is working to bolster raw material security through a mix of domestic expansion and overseas acquisition, a company executive said in a statement on Tuesday, October 28.
“We continue to strengthen that piece through a well-diversified portfolio of iron ore and coking coal assets," JSW Steel, joint managing director, Jayant Acharya said.
JSW Steel is in the process of acquiring the Minas de Revuboe Project in Mozambique, a move aimed at securing access to premium low-volatile (PLV) high-grade coking coal, he said.
The acquisition is expected to be completed by this fiscal year end.
The company recently increased its stake in Australia's Illawarra coking coal asset from 20 percent to 30 percent, ensuring a steady off-take of high-quality coking coal, he added.
Domestically, the steelmaker is focused on expanding its iron ore capacity. At present, JSW Steel operates 12 iron ore mines- nine in Karnataka and three in Odisha.
Acharya said three new iron ore mines in Karnataka are expected to commence production in the first quarter of fiscal 2026-27, adding 4 million mt per year of additional ore per year.
In Goa, where JSW Steel has secured three mining blocks, operations are scheduled to begin at the Cudnem site in the third quarter of 2025-26, while mining at the Surla and Codli sites is expected to start in the second half of 2026-27. Together, the Goa mines are expected to contribute approximately 3.7 million mt per year, he said.
On the coking coal front, JSW Steel has secured three mines in the eastern state of Jharkhand, along with linkages from government-run miner Coal India Limited. These assets are expected to become operational progressively over the next two to three years, contributing between 3.2-3.5 million mt of coking coal, Acharya said.