New Delhi, Feb. 28 -- India's two largest steelmakers have diverging strategies on the acquisition of captive iron ore mines for securing the supply of this critical raw material.

JSW Steel, which has historically had more reliance on the open market to meet its iron ore demand, is aggressively bidding for acquiring more captive mines, or mines under its leasehold.

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Meanwhile, Tata Steel, which currently procures all its iron ore from captive mines, is exploring meeting at least part of its requirement from the open market as the lease on several of its key mines expires in 2030.

The strategies will be closely watched by large independent miners like NM...