JSW Steel Announces the Minas de Revuboè Coking Coal Mining Project in Mozambique

In a ceremony held in Moatize, JSW Steel Limited ("JSW Steel" or the "Company") today announced its coking coal mining project, Minas de Revuboè (MdR), located in the Moatize coal basin, Tete Province, Mozambique. The ceremony was presided over by the President of the Republic of Mozambique, His Excellency Mr. Daniel Francisco Chapo, in the presence of Mr. Parth Jindal of the JSW Group, Mr. Robert Shetkington, Indian High Commissioner to Republic of Mozambique, and other senior Government dignitaries marking a landmark moment in India-Mozambique industrial cooperation.

A Strategic Asset of Global Significance

The MdR project, located in the Moatize coal basin of the Tete Province, Mozambique, grants JSW Steel access to substantial reserves of premium hard coking coal which is a key raw material in steelmaking.

MdR has 850 mt of reserves, and the potential to yield 250 mt of usable coking coal. JSW Steel will develop the mine in phases, with the first phase expected to be developed over the next 2.5 years to produce 2.4 mtpa prime hard coking coal. MdR is located approximately 10 km north of Tete city, 450 km north of Beira Port, and 900 km south-west of Nacala Port - a logistical advantage that positions it as one of the most favourably situated coking coal assets globally for supply to Indian steel plants.

This project represents a transformative step in JSW Steel's backward integration strategy and is expected to provide long-term supply assurance for one of the most critical and cost-intensive inputs in steel manufacturing. India's domestic premium coking coal resources remain limited, making captive overseas sourcing a strategic imperative. Through the MdR project, JSW Steel is expecting to mitigate exposure to coking coal price volatility and optimise its cost structure over the long term.

Securing premium-quality hard coking coal is critical not only from a productivity standpoint but also for reducing carbon emissions intensity in steelmaking. MdR's high-grade coal profile is expected to contribute directly to JSW Steel's sustainability objectives alongside its broader decarbonisation roadmap.

Mr. Daniel Francisco Chapo, President of the Republic of Mozambique said, "The Government and people of Mozambique are elated by the entry of a world leader like JSW Steel into Mozambique. With the development of the Minas de Revuboè project, Mozambique looks forward to creating a world-class mining asset. With JSW Steel's presence, Mozambique will prove to international investors the ease of doing business in Mozambique."

Mr. Parth Jindal, JSW Group said, "JSW Steel is pleased to announce the Minas de Revuboè project in Mozambique. This project marks a pivotal milestone in securing premium hard coking coal reserves in Africa, strategically positioned close to India for cost optimization. As we grow to 50 mtpa steel capacity in India by 2030, we hope that this asset will provide strategic and diversified raw material security and cushion JSW Steel against volatile global coking coal prices, while fueling our sustainable growth vision."

Shares of JSW Steel Limited was last trading in BSE at Rs. 1119.05 as compared to the previous close of Rs. 1172.70. The total number of shares traded during the day was 54486 in over 4160 trades.

The stock hit an intraday high of Rs. 1168.50 and intraday low of 1114.90. The net turnover during the day was Rs. 61921064.00.

Source : Equity Bulls

Keywords

JSWSteel INE019A01038 CokingCoal MiningProject Mozambique