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INDIAN STEELMAKER JSW TO LIST UNIT IN LONDON.

AsiaPulse News

| February 01, 2008 | COPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

NEW DELHI, Feb 1 Asia Pulse - Indian steelmaker JSW (BSE:500228) is planning to list an international mining unit in London, the first ever move by an Indian steel major, according to a leading British business daily.

"JSW Steel is planning to list an international mining unit in London...," the Financial Times reported.

The country's second biggest private steelmaker presently serves only about a third of its 4 million tons of steelmaking capacity from its own iron ore mines and is working on building up an international mining portfolio, acquiring the rights to explore for iron ore in Jharkhand, and an exploration licence in Chile, it said.

Besides, it is also in negotiations to buy mines in Canada and Australia.

"These mining assets are mostly greenfield, which ...

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Source: HighBeam Research, INDIAN STEELMAKER JSW TO LIST UNIT IN LONDON.

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