JSW Steel , one of India's leading steel producers, has significantly increased its stake in M Res NSW HCC Pty Ltd (M Res NSW), strengthening its position in the Australian coking coal market. The company has acquired an additional economic stake in M Res NSW for $60.00 million, raising its ownership to 83.33% from the previous 66.67%.

Strategic Acquisition Details

The acquisition, approved by JSW Steel's Board of Directors on September 17, 2025, will be executed through the company's wholly-owned subsidiary, JSW Steel (Netherlands) B.V. The transaction involves a combination of primary subscription and secondary purchase of non-voting Class B shares in M Res NSW.

Increased Stake in Illawarra Metallurgical Coal

This strategic move has broader implications for JSW Steel's involvement in Australian coal assets:

• M Res NSW will increase its holding in Golden M NSW Pty Ltd from 30% to 36%.
• Consequently, JSW Steel's effective economic interest in Illawarra Metallurgical Coal will rise to 30% from the current 20%.

Enhanced Raw Material Security

The acquisition aligns with JSW Steel's strategic priority of ensuring raw material security and cost optimization. Key benefits include:

• Increased offtake rights for hard coking coal, proportional to the new 30% economic interest.
• Access to Illawarra Metallurgical Coal's significant reserves, reported at approximately 95.00 million tons of marketable coal as of December 2024.

Financial Implications

While the immediate investment is $60.00 million, the transaction also affects JSW Steel's future financial commitments:

• The company's obligation to invest in M Res NSW by 2030 for deferred consideration to South32 has increased from up to $50.00 million to up to $75.00 million.

About Illawarra Metallurgical Coal

Illawarra Metallurgical Coal operates the Appin and Dendrobium coking coal mines and associated infrastructure in New South Wales, Australia. These assets are crucial for JSW Steel's raw material supply chain.

This strategic acquisition underscores JSW Steel's commitment to vertical integration and securing critical raw materials for its steel production operations. By increasing its stake in Australian coking coal assets, the company aims to enhance its competitive position in the global steel market.

JSW Steel , one of India's leading steel manufacturers, has reported a significant increase in its crude steel production for August. The company's output reached 27.03 lakh tonnes, marking a robust 17% year-over-year growth compared to the same period in the previous year.

Production Highlights

The steelmaker's impressive performance is underscored by its high capacity utilization rate of 95% during the month, indicating efficient operations and strong demand for its products.

Industry Implications

This substantial increase in production volumes suggests a positive outlook for the steel industry, potentially reflecting improved market conditions and demand from key sectors such as construction, automotive, and infrastructure.

JSW Steel's ability to maintain such high capacity utilization rates demonstrates the company's operational efficiency and its strategic position in the Indian steel market.

The company's continued production growth may have implications for its market share and financial performance in the future.