Located in the Moatize coal basin in Tete province, Minas de Revubo has 850 million tons of reserves and the potential to produce 250 million tons 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 tons of solid coking coal.
The project is a step towards JSW Steel's reverse integration strategy and is expected to provide a long-term supply guarantee for one of the most important and expensive factors of steel production.
"We hope that this asset will provide strategic and diversified commodity security and protect JSW Steel from volatile global coking coal prices, while fueling our vision for sustainable growth," said Jeff Jindal of JSW Group.
