JSW Steel’s Mozambique Coal Deal Faces Legal Setback

09 Jan 2025 CW Team

India’s largest steelmaker, JSW Steel Ltd., has been sidetracked by a legal dispute that has halted its plans to acquire a coal concession in Mozambique. The deal to purchase Minas de Revuboè (MdR) from the estate of Australian tycoon Ken Talbot, who passed away 14 years ago, has been thrown into uncertainty after the Mozambican government revoked MdR's coal mining lease, valued at around $50 billion.

JSW Steel, led by Sajjan Jindal, had agreed in May to acquire a 92% stake in MdR for $74 million as part of a broader investment plan. However, two months after the lease revocation, the Mozambican Ministry of Mineral Resources and Energy published a notice offering a 30-day period for objections to awarding the coal concession to Stonecoal SA, a company with close ties to the Jindal family.

Four of Stonecoal's five directors are employed by Naveen Jindal's JSW Steel & Power Ltd. (JSPL), though Stonecoal’s representatives have denied any direct connection to the company, stating the efforts were made in a personal capacity.

The dispute comes at a crucial moment for Mozambique, which is grappling with civil unrest following disputed elections. It also complicates the efforts of JSW Steel, which had hoped to secure the coal mine as part of its strategy to meet the growing demand for key materials, like coking coal, for steel production.

JSW Steel and the Talbot estate are challenging the revocation in arbitration, seeking to restore the original lease and finalize the sale. The case is being overseen by the International Centre for Settlement of Investment Disputes, with a tribunal hearing expected in early 2025. The outcome could have significant implications for the Jindals’ mining interests and the broader Mozambican mining sector.

Infrastructure Urban

09 Jan 2026

Mount Invests Rs 250 Cr, Adds PUF & PEB Plants, 400+ Jobs

TUMKUR, Karnataka, January 8, 2025 - Mount Roofing & Structures Private Limited, one of India's fastest-growing manufacturers in PUF and a leading solutions provider across Pre-Engineered Building (PEB) and Polycarbonate sheets, simultaneously inaugurated its second fully automated continuous Sandwich Panel manufacturing line and a new PEB manufacturing plant at its integrated campus in Tumkur." The milestone expansion, part of a total investment of INR 250 crores, marks a significant advancement in the company's commitment to engineered performance, manu..

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..