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JSW undecided on Mozambique block

Thursday 17th Nov 2011 140

Mumbai : JSW Steel had plans to transfer thermal coal mine to the power arm, but the boards have yet to discuss the transfer.

One may call it the curious case of the coal mine in Mozambique for the $7-billion diversified JSW Group.

At a time when its power arm, JSW Energy, is severely hamstrung due to the lack of captive coal resources to fire its thermal power portfolio, analysts and company shareholders are puzzled at the delay in transferring an existing coal mine within group companies.

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