JSPL Wins 5 Iron Ore Exploration Licenses

Business Standard reports that Jindal Steel and Power Ltd (BOM:532286) has secured five exploration licences for iron ore mining in African countries.

As quoted in the market news:

This has come at a time when iron ore mining is banned in India and the company wants security on the resource side.

“We have got exploration licences in Namibia, Gabon, Sierra Leone, Mauritania and one in South Africa. We have started testing to access the exact number of reserves. It will take about 12-18 months to finalise,” Ravi Uppal, managing director and chief executive, JSPL, told Business Standard in an interview.

Click here for the full Business Standard story