[miningmx.com] – INDIA’s JSW Steel was in talks to buy London Mining which has seen its share price cut by 96% this year amid a decline in the iron ore price and the outbreak of Ebola where it operates in Sierra Leone.
Citing a person familiar with the matter, Reuters said that JSW Steel was striving to secure more raw materials for its steel-making activities and that London Mining might “come cheap” owing to its shrunken market value of $10m.
“Talks (with London Mining) have been going on for many months. JSW people have visited them also,” said a market source.
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