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JSW Steel keen to bid for Australian coal mine

Tuesday, 25 Oct 2011
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JSW Steel is likely to bid for Australian coal mine, New Hope Corp in Ipswich, Queensland.

The deal is likely to be worth more than $5 billion (approx Rs 24,750 crore). JSW will raise the funds for the acquisition either on its own or through a venture. The New Hope asset will help the company to secure raw material for its steel operations and thermal coal to run its energy unit's operational and upcoming power plants in India.

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