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JSW Steel sees ‘New Hope’ in Oz to meet its coal needs

25 Oct 2011 Evaluate

JSW Steel, India’s third largest producer, is considering a bid for New Hope, the Australian coal producer valued at A$5 billion ($5.2 billion). The company is studying the assets and may make an offer. JSW will look at ways to raise money to fund the acquisition either on its own or through a venture. Buying New Hope, based in Ipswich, Queensland state, would give JSW thermal-coal mines and an export terminal. New Hope, which operates the Acland coal mine in Queensland, announced that selected groups will be invited to submit offers in a process that is likely to take months. JSW requires coking coal for its steel operations and thermal coal to run its energy unit’s operational and upcoming power plants in India.

JSW Steel Share Price

1236.30 -9.25 (-0.74%)
13-Jul-2026 16:01 View Price Chart
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Company Name CMP
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