By Martin Shwenk Leade

Copyright indiatimes

JSW Steel will purchase an additional economic interest in M Res NSW for $60 million through its subsidiary JSW Steel (Netherlands), effectively increasing its stake in Australia-based Illawarra Metallurgical Coal, the company said in an exchange filing on Wednesday.This will allow JSW Steel to purchase additional coking coal from Illawarra Metallurgical Coal.”Raw material security and cost optimisation remain a key strategic priority for the company,” it said in its filing.JSW Steel’s market-linked contract with Illawarra Metallurgical Coal allows it to purchase hard coking coal in proportion to its economic interest in the company.The steel maker had already acquired a 66.67% economic interest in M Res NSW last year. With its additional stake buy in the company, it will hold an 83.33% stake in the company.Live EventsAdd as a Reliable and Trusted News Source Add Now!
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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onjsw steelJSW SteelM Res NSWstake increasecoking coalnetherlandsIllawarra Metallurgical Coal(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless