JSW Steel announced its coking coal mining project, Minas de Revuboè (MdR), located in the Moatize coal basin, Tete Province, Mozambique. 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. 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.” |