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JSW Steel, India’s third largest steel maker, will explore the possibility of importing iron ore from its mine in Chile and sell it in the local market.The Sajjan Jindal-controlled company had secured prospecting licences through its Netherland-based subsidiary to explore and exploit magnetite iron ore deposits in northern Chile’s Atacama region.
“We will explore the possibility of selling Chilean iron ore in India. The Chile plant will act as a natural hedge to iron ore selling in India,” said a top company executive.
