<article><p class="lead">Indian private-sector producer JSW Steel has entered an agreement to sell its US-based subsidiary Caretta Minerals' coal mines and assets to West Virginia Properties owing to lease termination.</p><p>Caretta entered into the agreement on 20 September to sell its property, plant, equipment and mineral rights to West Virginia Properties for a consideration of $24mn, JSW said, adding that mine operations were not economically viable in the absence of a coal mining lease and plant lease.</p><p>The firm was operating coal mines and a preparation plant to beneficiate the coal mined through a leasing arrangement from US company Alawest and West Virginia Properties.</p><p>JSW operates a 1.5mn t/yr Ohio crude steel plant and 1.2 mn t/yr Baytown plate mill in the US.</p><p class="bylines">By Sumita Layek</p></article>
