NSSMC granted mining concession for coking coal project in Mozambique

Japan-based Nippon Steel & Sumitomo Metal Corp. (NSSMC) has announced that it has received a mining concession for the development of its Revuboe coking coal project in Tete Province, Mozambique.
 
According to NSSMC, the Revuboe project has already identified deposits of high-quality coking coal on a scale large enough to permit open-cut mining. The Revuboe project will supply requirements to the company over a long period, further strengthening its stable procurement base in the future.
 
The project is expected to produce 5 million mt of coking coal annually. The coal production is scheduled to start in 2016.
 
NSSMC currently holds a 33.3 percent interest in the project with its affiliate company Nippon Steel Trading Co, while South Korean steel producer POSCO has a shareholding of 7.8 percent. The remaining 58.9 percent interest belongs to Talbot Group.