JSW Steel has started iron ore exploration for a new plant in India
The Indian company JSW Steel Limited has begun exploration of the Gadchiroli iron ore deposit in the western state of Maharashtra, acquired at auction three years ago, as a preliminary step towards the construction of a new metallurgical plant with a capacity of 25 million tons on this site.
This was announced by the head of the company, Sajan Jindal, SteelOrbis reports.
JSW Steel Limited, together with four other companies, holds a combined license for the exploration and production of iron ore in Gadchirola. Currently, only Lloyds Metal and Energy Limited (LMEL) is mining iron ore in this region.
Jindal noted that the Gadchirola steel plant is part of the company's plans to increase steel production capacity to 50 million tons per year by 2030, which also includes the Odisha steel plant, which is being built in collaboration with South Korean company Posco.