Jindal Steel and Power (JSPL) has decided not to acquire the Afferro Mining site in Cameroon, due to some major deterrents such as low grade magnetite and related problems in beneficiation, new mining code in Cameroon, financial unviablility and lack of infrastructure. The company has withdrawn discussions of acquisition, as the mutual exclusivity period between both the companies has ended without any conclusive outcome.
JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.
