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

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..