JSW Steel Ltd.

JSW Steel is reportedly in talks to acquire Sierra Leone-focused iron ore miner London Mining Plc. London Mining, which has been hit by a falling iron ore price and the Ebola crisis that has gripped the region, would come ‘cheap’ given its market value of $10 million. Moreover, the deal would help JSW to meet some of its demand for steelmaking ingredient iron ore.

Action against illegal mining in India has led to a sharp fall in domestic iron ore output, forcing JSW to import heavily. It plans to ship in 10 million tonnes of iron ore this fiscal year ending March 31.

JSW Steel is part of the JSW group which, in turn, is a part of the O P Jindal group. JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.