Indian mining, steel heavyweight opens up shop in SA -Jindal Steel and Power Limited
Inaugurated on April 25 by Mr Naveen Jindal, the Chairman of Jindal Steel & Power Ltd in the presence of its MD & Group CEO, Mr Ravi Uppal
by kapil Sharma Tuesday, May 13, 2014
“We are still driving the due diligence and it will be a while before this operation becomes a reality, but we are confident of a high-grade iron-ore product suitable for steelmaking,” commented Jindal Africa CEO Ashish Kumar.While concurrently advancing its South African operations, in 2009, the group expanded into Mozambique, starting development of the envisaged ten-million-tonne-a-year Chirdozi coal mine, in the Moatize district, which boasted a proven reserve of 700-million tonnes and an expected life-of-mine of 25 years.
“The prefeasibility studies for both of these options have been completed and we will advance one of these two alternatives,” Kumar commented. Jindal had also received environmental-impact assessment approvals for the construction of power plants in the country able to produce up to 350 MW. In Botswana, the group was also currently advancing a coal project in the Mmamabula coalfield – an extension of South Africa’s Waterberg coalfield –which boasted coal reserves close to 2.7-billion tonnes. A mining licence application for the mine had been submitted and discussions around the potential for the mine to supply energy to the Southern African Development Community (SADC) were ongoing.
“We have been shortlisted as an independent power producer supplier for Botswana and are in advanced discussions with energy utility Eskom regarding South Africa grid supply,” noted Kumar. Elsewhere in the SADC region, Jindal had acquired licences and started exploration for iron-ore and manganese on tenements in Namibia with potential consolidated iron-ore reserves of several-billion tonnes.Jindal’s African ambitions were underpinned by its objective of producing 9.5-million tonnes a year of steel, generating 11 140 MW a year of power and manufacturing 4.5-million tonnes a year of steel pellets by 2020.
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