JSW Steel Completes Acquisition of 92.19% Stake in Minas de Revuboe Limitada: Here is What Happened
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The steel major's wholly owned subsidiary JSW Natural Resources Limited has transferred USD 74.24 million to designated escrow accounts, completing the transaction on March 25, 2026.
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JSW Steel share price closed at Rs 1,156.00 on March 25, 2026, up Rs 22.30 or 1.97 per cent from the previous close. Over the past six months, the stock has delivered a return of 2.14%.
Acquisition Update
JSW Steel Limited has completed the acquisition of 92.19 per cent equity stake and shareholders' loans of Minas de Revuboe Limitada, referred to as MdR, a premium hard coking coal mining project located in the Moatize coal basin, Tete Province, Mozambique. The transaction was executed by transferring USD 74.24 million to designated escrow accounts on March 25, 2026, in accordance with the definitive agreements. The acquisition was carried out through JSW Natural Resources Limited, a wholly owned subsidiary of JSW Steel.
The MDR project gives JSW Steel access to substantial reserves of premium hard coking coal, a key raw material necessary for high-quality steel manufacturing. The project is expected to yield 2.4 million tonnes per annum of coking coal, strengthening JSW Steel's backward integration strategy and securing raw material supply for its Indian plants.
JSW Steel originally agreed to buy Minas de Revuboe from the estate of Ken Talbot, an Australian mining tycoon who died 14 years ago. The deal had been in the works for some time, with the company making earlier intimations to the exchanges on May 17, 2024, January 28, 2025, and March 26, 2025, before finally completing the transaction this week.The higher-grade coal profile from MDR is also expected to contribute to JSW Steel's sustainability objectives, aligning with its broader decarbonisation roadmap. With this acquisition, JSW Steel secures access to over 800 million metric tonnes of coking coal reserves through the project
About JSW Steel
JSW Steel Limited is primarily engaged in the manufacture and sale of iron and steel products and is the flagship business of the diversified JSW Group, valued at USD 23 billion. The group has interests across energy, infrastructure, cement, paints, sports, and venture capital.
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Disclaimer: The article is for informational purposes only and not investment advice.