JSPL through its 100% owned Australian subsidiary, Jindal Steel and Power (Australia) PTY Ltd is investing in greenfield and brownfield resource sector companies and projects to supplement its planned steel and power projects in India and abroad.
Investment in ASX Listed Companies
- JSPL has increased its stakes to 31.49% (433.3 million shares) through an open offer in Gujarat NRE Company, (GNM) an ASX listed coking coal producing company in New South Wales which has two operating underground mines producing coking coal. JSPL also has an off take agreement for 700,000 tons of coking coal per year with Gujarat NRE for a ten year period.
- In addition, Jindal and Gujarat will enter separately into new off-take agreements on normal commercial terms and conditions reflecting the changing ownership structure which will secure the sale of ROM coal from the company.
- JSPL (Australia) has taken 11.7% stakes in Apollo Minerals Ltd, which has Iron ore tenements in South Australia, Western Australia and Gabon.
JSPL has six 100% owned coal exploration projects in Queensland. These exploration tenements are spread over a very large area of more than 1300 sq. km with potential for coking/PCI and thermal coal and are very strategically located in three major coal bearing areas of Queensland i.e. Bowen basin, Surat basin and Maryborough basin close to rail and port infrastructure. An option agreement has been signed with Fitzroy port terminal for 5 MT of port capacity.