India’s JSW Steel Ltd is in talks with Australian miner Whitehaven Coal for a stake in its Blackwater metallurgical coal mine, a source aware of the discussions said on Tuesday. JSW Steel, India’s largest steel producer by capacity, is conducting due diligence and expects to get a coking coal sample from the mine this month to check specifications, the source said. Whitehaven in January said it was exploring a potential sell-down of about 20% of Blackwater to global steel producers as strategic joint venture partners.
The miner acquired the Blackwater and Daunia mines from BHP Group in a $4.1 billion deal last October, and expects the acquisition to complete in early April.
