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Prelude to the Best Sommelier of Canada Contest | SaltWireNEW DELHI - India's JSW Steel Ltd's discussions with Canada's Teck Resources over buying a possible stake in its coking coal unit have yielded"nothing concrete", JSW Steel Chief Executive Jayant Acharya told Reuters on Monday.
"There is nothing concrete on Teck. We are in discussion with strategic possibilities among which Teck is one," Acharya said in an interview.Ties between India and Canada deteriorated after New Delhi and Ottawa expelled each other's diplomats following the murder of a Sikh separatist leader in the Canadian province of British Columbia in June.
Acharya said the company was exploring overseas coal assets in different countries, including Australia, without elaborating. The steelmaker reported a second-quarter profit last week, helped by robust domestic demand and lower input costs.Acharya said the company would continue to focus on sales in the local market because of strong demand.
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