JSW Steel to diversify iron ore sourcing.

JSW Steel, as part of its de-risking strategy, is planning to diversify the sourcing of its iron ore, including from imports.

The company, dependent on e-auctions in Karnataka and from government mining company NMDC, among other sources in Chhattisgarh and Odisha, has for the first time participated at e-auctions in Goa, though the ore here is inferior in quality.

The move is aimed at ensuring adequate supply for its steel mills, as the availability in Karnataka has not improved significantly. The steel major bought 11,400 tonnes of ore with 58.5 and 59.5 per cent iron (Fe) content recently at the Goa e-auctions and is testing the quality at its beneficiation plant at Bellary (Vijayanagar) in Karnataka. Based on the feasibility, it plans to continue sourcing the ore from Goa, two top officials of the company said.

BS