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 Transport

15 Oct 2025

BMC Gets CRZ Nod For Rs 40 Million Gorai Bridge Rebuild

The Brihanmumbai Municipal Corporation (BMC) has secured Coastal Regulation Zone (CRZ) clearance for the reconstruction of the Poisar River bridge in Gorai, located in Mumbai’s western suburbs. However, the proposed demolition of the existing 100-metre bridge has sparked opposition from local residents, who claim it serves as the only direct access route between the Lower and Upper Koliwada areas. The three-decade-old bridge, situated within the CRZ buffer zone, was recently declared structurally unsafe following a civic audit. The BMC has sanctioned its reconstruction at an estimated cost ..

NHAI Completes Rs 15.9 Billion Four-Lane Stretch On ECR

The National Highways Authority of India (NHAI) has completed the four-laning of the 38 km Puducherry–Poondiyankuppam stretch, ending near Cuddalore, in a development that will cut travel time by up to two hours, according to a report by The New Indian Express. The upgraded section, built at a cost of Rs 15.9 billion under the Bharatmala Pariyojana Phase I, marks a major milestone in the ongoing East Coast Road (ECR) widening programme. The project promises a smoother, faster drive for motorists travelling towards Cuddalore, Chidambaram, Sirkazhi, and Nagapattinam. With this completion, 22..

Encroachments Delay Rs 1 Billion Ghatkopar Bridge Project

The construction of a new cable-stayed rail overbridge at Ghatkopar and the widening of the Andheri–Ghatkopar Link Road (AGLR) have been delayed due to the presence of nearly 250 encroached structures on both sides of the road. In response, Municipal Commissioner Bhushan Gagrani has directed officials to carry out a structural audit of the existing bridge over the railway line and enforce temporary restrictions on heavy vehicles to ensure public safety. The bridge, which starts at the Golibar Road junction near LBS Marg and extends up to the Eastern Express Highway (EEH), serves as a critic..