Indian Steel Tycoon's Pathway to Mozambique Coal Deal Reopens
India's largest steelmaker can proceed with the acquisition of a coal deposit in Mozambique after the seller recovered the concession rights from the country's new government.
JSW Steel Ltd. 's $74 million deal to buy Minas de Revuboe — announced a year ago — ran into trouble when the administration of then-President Filipe Jacinto Nyusi revoked the local company's mining lease. MdR responded by initiating legal and arbitration proceedings to regain the license.
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