India-based steelmaker Jindal Steel and Power (JSPL) is reportedly in talks with London-based Stemcor, one of the world's largest independent steel traders, to buy Brahmani River Pellets (BRPL), Stemcor's pellet unit in the Indian state of Odisha, according to media reports.
Stemcor has an 80 percent stake in the pellet unit, with 20 percent belonging to an Indian company. The pellet unit produces 4 million mt of iron ore pellets per year and has an adjacent iron ore mine with an annual production of over 2 million mt.