JSW Steel Clears Mozambique Coal Deal Roadblock
COAL & MINING

JSW Steel Clears Mozambique Coal Deal Roadblock

JSW Steel has overcome a major hurdle in its Rs 6.2 billion acquisition of the Minas de Revuboe (MdR) coal mine in Mozambique. The mining lease, earlier cancelled by the former administration, has now been reinstated by President Daniel Chapo’s government.

Owned by Australia’s Talbot Group Investments Pty Ltd, MdR had faced a setback when the previous President, Filipe Nyusi, revoked its lease. Talbot Group challenged the move legally and through arbitration. On 15th April, the cabinet reversed the cancellation, and Mozambique’s natural resources database confirmed the concession’s reinstatement last week.

JSW Steel, led by Sajjan Jindal, had announced the deal in May last year. The company extended the closure timeline by five months in January, citing the change in leadership. By February, JSW confirmed it was still committed to the acquisition.

MdR holds an estimated 280 million tonnes of high-grade coking coal. JSW’s Managing Director and Chief Executive Officer Jayant Acharya stated the mine has reserves exceeding 800 million tonnes, including 270 million tonnes of prime coal, which is vital for steelmaking. The project’s proximity to India is expected to help reduce import costs and limit exposure to volatile coal pricing.

Source: Outlook Business 


JSW Steel has overcome a major hurdle in its Rs 6.2 billion acquisition of the Minas de Revuboe (MdR) coal mine in Mozambique. The mining lease, earlier cancelled by the former administration, has now been reinstated by President Daniel Chapo’s government.Owned by Australia’s Talbot Group Investments Pty Ltd, MdR had faced a setback when the previous President, Filipe Nyusi, revoked its lease. Talbot Group challenged the move legally and through arbitration. On 15th April, the cabinet reversed the cancellation, and Mozambique’s natural resources database confirmed the concession’s reinstatement last week.JSW Steel, led by Sajjan Jindal, had announced the deal in May last year. The company extended the closure timeline by five months in January, citing the change in leadership. By February, JSW confirmed it was still committed to the acquisition.MdR holds an estimated 280 million tonnes of high-grade coking coal. JSW’s Managing Director and Chief Executive Officer Jayant Acharya stated the mine has reserves exceeding 800 million tonnes, including 270 million tonnes of prime coal, which is vital for steelmaking. The project’s proximity to India is expected to help reduce import costs and limit exposure to volatile coal pricing.Source: Outlook Business 

Next Story
Infrastructure Transport

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

Next Story
Resources

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Next Story
Real Estate

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?