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Nippon Steel Promotes Mozambique Coking Coal Development Project
10/28/2010 - Nippon Steel Corp. (NSC) and Nippon Steel Trading Co., Ltd. (NST) have reached an agreement whereby NSC will acquire a 23.3% economic interest in the Revuboe Project, of which NST currently holds a 33.3% interest. A bankable feasibility study will be conducted with the goal of launching full-scale development of the project.
Nippon Steel Corp. (NSC) and Nippon Steel Trading Co., Ltd. (NST) have reached an agreement whereby NSC will acquire a 23.3% economic interest in the Revuboe Project, of which NST currently holds a 33.3% interest. A bankable feasibility study will be conducted with the goal of launching full-scale development of the project.
The Revuboe Project is a green-field coking coal project in the Tete province in the Republic of Mozambique. NST, together with other parties, was granted an exclusive prospecting license in 2004. Since then NST, jointly with the Australian resources company Talbot group, has conducted exploration activities and confirmed the existence of a large resource of high-quality hard coking coal that is mineable by open-cut mining.
NSC and NST plan to jointly accelerate the development of the Revuboe mine, aiming to strengthen the metallurgical coal procurement base. Posco has a 7.8% interest in the project.
The Revuboe Project is a green-field coking coal project in the Tete province in the Republic of Mozambique. NST, together with other parties, was granted an exclusive prospecting license in 2004. Since then NST, jointly with the Australian resources company Talbot group, has conducted exploration activities and confirmed the existence of a large resource of high-quality hard coking coal that is mineable by open-cut mining.
NSC and NST plan to jointly accelerate the development of the Revuboe mine, aiming to strengthen the metallurgical coal procurement base. Posco has a 7.8% interest in the project.
In 2004, the Government of Mozambique commenced restoration work on the Sena railway line to connect the coal fields of the Tete province with the port of Beira. At the same time, it started granting prospecting licenses for various mineral resources.
