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Jindal Steel wins 25-year coal licence in Mozambique

Jindal Steel wins 25-year coal licence in Mozambique
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First Published: Fri, Feb 04 2011. 07 50 PM IST
Updated: Fri, Feb 04 2011. 07 50 PM IST
Maputo: Mozambique has awarded India’s Jindal Steel & Power a 25-year licence to explore and mine for coal in the northwest Tete province, in return for a $180 million investment, the country’s resources ministry said on Friday.
Jindal will invest $180 million in the Tete coal mine, as part of a project that will cover 2,1540 hectares and directly employ 1,500 people, the mineral resources ministry said in a statement.
The deal will be formally signed on Monday and the Mozambique government will own a 10 stake.
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First Published: Fri, Feb 04 2011. 07 50 PM IST