| Ispat acquires coal blocks in Mozambique |
| BS Reporter / Kolkata February 6, 2008 |
| Global Steel Holdings, the holding company which controls steel and associated businesses of the Ispat Group, has acquired two coal mining blocks in Mozambique. The investment in the two blocks would be in the region of Rs 460 crore. The blocks, which cover a licence area of around 30,000 hectares, have proven resources of around 70 million tonne of coking coal with low to medium ash content, said sources. The exploration work had already commenced and the actual reserves could be higher considering the potential of the blocks, sources added. The blocks are in the Tete region and in close proximity to the licence areas of ArcelorMittal, Tata Steel and Vale |
