Jindal Steel drops plan to acquire Cameroon’s Afferro Mining

NEW DELHI: Jindal SteelBSE -1.37 % and Power (JSPL) today said it has dropped the plan to acquire Cameroon focused iron ore firm Afferro Mining Inc due to low grade magnetite reserves of the African company and high costs involved in beneficiation of the ore. The company said in a statement that it has “withdrawn [...]