India will halt a $20 billion plan by Tata group and Jindal Steel & Power Ltd. to turn coal into crude oil after scrapping rights to two mining blocks allotted to the companies, two people familiar with the matter said.
Jindal Steel & Power Ltd. ended talks to buy Afferro Mining Inc. after assessing its Cameroon iron ore reserves and will negotiate instead with two other African miners, said two people with knowledge of the matter.
Jindal Steel & Power Ltd., India’s third-largest steelmaker by value, is in talks to acquire an iron ore mine in Liberia as environmental hurdles at home prompt it to look overseas, said two people familiar with the matter.
Jindal Steel & Power Ltd., India’s third-largest steelmaker by value, headed for the biggest decline in 5 1/2 years in Mumbai as the nation’s top investigating agency registered a case related to allocation of coal blocks against the company and its owner Naveen Jindal.
Jindal Steel & Power Ltd., India’s second-biggest maker of the alloy by market value, fell to a three-year low after first-quarter profit unexpectedly declined because of an impairment charge on an investment in Bolivia.
Jindal Steel & Power Ltd., India’s biggest steel producer by market value, fell to its lowest price in more than three months after a court-appointed panel scrapped the approval for its coal mining project.