JSW has been hit hard by a ruling of India's top court last year that banned iron ore mining in three districts of Karnataka. Before the mining ban JSW used to get iron ore through contracts with miners in the state. However, since August, JSW, which doesn't own an iron ore mine, has been relying on court-mandated auctions of the raw material to run its factory in Vijaynagar town.
“We are hopeful the Supreme Court will lift the ban in some of the mines, which would ease supply pressures for the steel industry in the state,”
Chief Financial Officer Seshagiri Rao
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