India’s JSW Steel Limited will develop the Minas de Revuboè coking coal mine in Mozambique in phases, a company statement said on Monday, March 16.
Located in the Moatize coal basin of Tete province, Minas de Revuboè has 850 million mt of reserves and the potential to yield 250 million mt of usable coking coal, the company said.
JSW Steel said it will develop the mine in phases, with the first phase expected to be developed over the next two and a half years to produce 2.4 million mt of prime hard coking coal.
The project is a step towards 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, it said.
“As we grow to 50 million mt per year 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 fuelling our sustainable growth vision," Parth Jindal of JSW Group said.