| The project is located in the Moatize coal basin in Tete Province and provides access to around 850 million tonnes of coal reserves, with the potential to yield about 250 million tonnes of usable premium hard coking coal, a key input in steelmaking. JSW Steel said the mine will be developed in phases, with the first phase expected to be completed over the next 2.5 years and designed to produce about 2.4 million tonnes per annum (mtpa) of prime hard coking coal. The company said the project is part of its backward integration strategy aimed at reducing exposure to volatility in global coking coal prices and strengthening supply security as it expands steelmaking capacity. Located about 10 km north of Tete city, the project benefits from proximity to key ports including Beira and Nacala, providing logistical advantages for supplying coal to steel plants in India. JSW Steel said securing access to premium coking coal is critical for supporting its long-term growth plans and improving cost efficiencies while also contributing to its sustainability goals by enabling more efficient steel production. Parth Jindal, JSW Group said, JSW Steel is pleased to announce the Minas de Revubo' 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. JSW Steel is the flagship business of the diversified, US$ 23 billion JSW Group. As one of India's leading business houses, JSW Group also has interests in energy, infrastructure, cement, paints, realty, e-platforms, mobility, defence, sports, and venture capital. The company's consolidated net profit zoomed 198.32% to Rs 2,139 crore in Q3 FY26, compared with Rs 717 crore in the corresponding period last year. Revenue from operations rose 11.14% year-on-year to Rs 45,991 crore in the quarter ended 31 December 2025. Shares of JSW Steel fell 4.57% to Rs 1119.05 on 13 March 2026. Powered by Capital Market - Live News |