Whitehaven in January said it was exploring a potential sell-down of about 20% of Blackwater to global steel producers as strategic joint venture partners.
The miner acquired the Blackwater and Daunia mines from BHP Group in a $4.1 billion deal last October, and expects the acquisition to complete in early April.
JSW Steel could consider acquiring more than a 20% stake in Blackwater, the source said.
JSW has held initial talks with Blackwater but has yet to see the specifications of the coking coal from the metallurgical coal mine in Australia, the source said.
A spokeperson for Whitehaven declined to comment on any talks with JSW Steel but referenced mention of the joint venture sell-down in the company’s earlier statements.
A JSW Steel spokesperson declined comment.
JSW Steel has been scouting for coking coal assets overseas.
The company currently imports coking coal from Canada, Australia, the United States, and some grades…
