JSW Steel Ltd.

India’s third- largest producer is considering putting its overseas coal and iron ore assets into a unit for a share sale to fund expansion, according to sources. The unit would control coal and iron ore mines in the U.S. and Chile, as well as an exploration business in Mozambique. JSW may list the unit in an overseas exchange.

JSW Steel bought seven coking coal mines in May in the U.S. with reserves of about 123 million metric tons. In Chile, the company’s Bellavista iron ore mines, acquired in 2008, are likely to start production by December. The company’s Mozambique unit is exploring for coal and iron ore resources, according to JSW’s latest annual report.