Mozambique: Indian group to mine for coal in Tete province

11 February 2008

Calcutta, India, 11 Feb – Global Steel Holdings, the company that brings together the steel making shareholdings of the Ispat group, said Wednesday in Calcutta that it had acquired two blocs for coal mining in Mozambique.

The company’s investment in the two blocs totaled around US$116 million, the company said, adding that the blocs, covering an area of 30,000 hectares, has proven reserves of 70 million tons of coal.

The two blocs are located in Tete province, close to the mining areas of ArcelorMIttal, Tata Steel and Vale.

Global Steel currently has steel production totalling 13.8 million tons per year in countries such as Bulgaria, Nigeria, the Philippines, Libya and India. (macauhub)