JSW Steels has acquired 1.35 million tons or about 65% of
the Iron Ore from the Auction held on 5th October and has
a total of 3.3 million tons or 55% of the ore sold at the three auctions since
September 14.
The company is expecting to restore the full production within
next four weeks.
JSW steels had to cut down 30% of the production at its
Karnataka unit after the ban of iron ore mining and sales in the state.
“We have a storage
capacity up to 4 mt at Toranagallu. With the regular auctions, we wish to
purchase up to this level in October and by the end of the month, we can bring
back the production to normal levels,” Vinod Nowal, said director and CEO, JSW
Steel.
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