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JSW Steel gains on launching coking coal mining project in Mozambique

MdR has 850 mt of reserves, and the potential to yield 250 mt of usable coking coal

The scrip is currently trading at Rs. 1129.85, up by 10.80 points or 0.97 % from its previous closing of Rs. 1119.05 on the BSE.

The scrip opened at Rs. 1118.20 and has touched a high and low of Rs. 1148.90 and Rs. 1118.20 respectively. So far 48508 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1284.55 on 25-Feb-2026 and a 52 week low of Rs. 907.25 on 07-Apr-2025.

Last one week high and low of the scrip stood at Rs. 1223.10 and Rs. 1114.90 respectively. The current market cap of the company is Rs. 276507.48 crore.

The promoters holding in the company stood at 45.32 % while Institutions and Non-Institutions held 36.93 % and 17.75 % respectively.

JSW Steel has launched its coking coal mining project, Minas de Revuboe (MdR), located in the Moatize coal basin, Tete Province, Mozambique. The MdR project, located in the Moatize coal basin of the Tete Province, Mozambique, grants the company access to substantial reserves of premium hard coking coal which is a key raw material in steelmaking. MdR has 850 mt of reserves, and the potential to yield 250 mt of usable coking coal. The company will develop the mine in phases, with the first phase expected to be developed over the next 2.5 years to produce 2.4 mtpa prime hard coking coal. MdR is located around 10 km north of Tete city, 450 km north of Beira Port, and 900 km south-west of Nacala Port - a logistical advantage that positions it as one of the most favourably situated coking coal assets globally for supply to Indian steel plants.

This 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 critical and cost-intensive inputs in steel manufacturing. India's domestic premium coking coal resources remain limited, making captive overseas sourcing a strategic imperative. Through the MdR project, the company is expecting to mitigate exposure to coking coal price volatility and optimise its cost structure over the long term. Securing premium-quality hard coking coal is critical not only from a productivity standpoint but also for reducing carbon emissions intensity in steelmaking. MdR's high-grade coal profile is expected to contribute directly to the company's sustainability objectives alongside its broader decarbonisation roadmap.

JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.