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JSW Steel sells US’ coal business to West Virginia Properties

25 Sep 2023 16:41 reported by Joy Liu

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JSW Steel, a leading steel manufacturer in India, has reached an agreement with West Virginia Properties to sell the plant and equipment of its US-based subsidiary Caretta Minerals, LLC, due to the termination of the lease for the coal mining and plant.

The agreement was inked on September 20, with a sum of US$24 million. The deal included the sale of Caretta Minerals’ property, plant, equipment, and mineral rights. Without the lease for the coal mining and the plant, it is not economically viable for the mine operations.

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