JSW Steel Limited has announced a landmark coking coal mining project in Mozambique, marking a significant milestone in the company's global raw material strategy and India-Mozambique economic cooperation. The ceremony for the Minas de Revuboè (MdR) project was held in Moatize, presided over by the President of the Republic of Mozambique, His Excellency Mr. Daniel Francisco Chapo.

Strategic Asset with Global Significance

The MdR project, located in the Moatize coal basin of the Tete Province, Mozambique, provides JSW Steel access to substantial reserves of premium hard coking coal, a critical raw material in steelmaking. The project represents a transformative step in the company's backward integration strategy and is expected to provide long-term supply assurance for one of the most cost-intensive inputs in steel manufacturing.

High-Level Government Support

The project launch ceremony was attended by distinguished dignitaries including Mr. Parth Jindal of the JSW Group, Mr. Robert Shetkington, Indian High Commissioner to Republic of Mozambique, and other senior Government officials. President Daniel Francisco Chapo expressed strong support for the initiative, stating that the Government and people of Mozambique are elated by JSW Steel's entry into the country.

Mr. Daniel Francisco Chapo, President of the Republic of Mozambique emphasized that with the development of the Minas de Revuboè project, Mozambique looks forward to creating a world-class mining asset and proving to international investors the ease of doing business in Mozambique.

Strategic Benefits and Sustainability Impact

The MdR project is strategically positioned to mitigate JSW Steel's exposure to coking coal price volatility and optimize its cost structure over the long term. India's domestic premium coking coal resources remain limited, making captive overseas sourcing a strategic imperative for steel manufacturers.

Mr. Parth Jindal, JSW Group highlighted that this project marks a pivotal milestone in securing premium hard coking coal reserves in Africa, strategically positioned close to India for cost optimization. As JSW Steel grows to 50 mtpa steel capacity in India, this asset is expected to provide strategic and diversified raw material security.

The high-grade coal profile from MdR is expected to contribute directly to JSW Steel's sustainability objectives alongside its broader decarbonisation roadmap. Securing premium-quality hard coking coal is critical not only from a productivity standpoint but also for reducing carbon emissions intensity in steelmaking.

About JSW Steel's Operations

JSW Steel is the flagship business of the diversified US$ 23 billion JSW Group and has grown to become India's leading integrated steel company. The company operates with a consolidated crude steel capacity of 35.70 MTPA including 1.50 MTPA in the US, while domestic crude steel capacity stands at 34.20 MTPA.

Sustainability and Recognition

JSW Steel has established itself as a leader in sustainability practices with ambitious environmental targets. The company aims to reduce CO₂ emissions by 42% from steel-making operations and has committed to achieve net neutral carbon emissions for all operations under its direct control. Additionally, JSW Steel targets to power steel-making operations entirely by renewable energy.

The company has received numerous recognitions including World Steel Association's Steel Sustainability Champion for seven consecutive years, Leadership Rating (A-) in CDP climate change disclosure, and ranking 8th among the top 35 world-class steelmakers according to World Steel Dynamics.

JSW Steel has reported consolidated crude steel production of 23.66 lakh tonnes for February 2026, marking a 2% year-on-year decline from 24.07 lakh tonnes in February 2025. The production figures were disclosed in compliance with SEBI LODR Regulations.

Production Performance Breakdown

The company's production performance showed mixed results across its operations, with the ongoing upgradation of Blast Furnace 3 (BF3) at Vijayanagar impacting overall output.

Operational Efficiency and Capacity Utilization

Despite the overall decline, the company demonstrated strong operational efficiency when accounting for the BF3 shutdown. The capacity utilization for Indian operations excluding BF3 capacity reached approximately 97%, while including BF3 capacity, the utilization rate stood at 88%.

Blast Furnace 3 at Vijayanagar has been under shutdown for capacity upgradation since September 2025, which impacted crude steel production at the Indian operations level. However, excluding BF3 production from the previous year's base, year-on-year volumes grew approximately 8%, driven by the full ramp-up of JVML operations.

US Operations Performance

Production at the USA Ohio operations was notably lower, declining 20% year-on-year. This decrease was attributed to the ramping up of operations following caster upgrades completed in January 2026 and extreme weather conditions caused by winter storms that affected operational efficiency.

Strategic Developments

The ongoing BF3 upgradation project represents part of JSW Steel's broader capacity expansion strategy. The company maintains a consolidated crude steel capacity of 35.7 MTPA, including 1.5 MTPA in the US, with domestic crude steel capacity standing at 34.2 MTPA. The next phase of growth is planned to take consolidated capacity to 48.9 MTPA over the next four years.