Vulcan – the Indian mining company that explores coal in Tete province – expects to reach between 50 and 52 million tonnes of coal this year and be among the world’s largest producers, the company’s chairman told Lusa on Thursday 2 April.
“When we started operating in 2022, our production was around 23 or 24 million tonnes. In the last three years, we’ve increased to around 35 and 36 million tonnes. By the end of this year, we’ll be reaching between 50 and 52 million tonnes. This will make us the second largest metallurgical coal mining company in the world,” said Mukesh Kumar during the 10th edition of the Mozambique Mining and Energy Conference and Exhibition.
“We are in a market where there are abundant resources. So we feel that we can be one of the biggest companies in the world here,” emphasised Mukesh Kumar.
In April 2022, Vulcan bought the coal mines in Tete (central Mozambique), railway line and port structure in Nacala from mining company Vale for 270 million dollars (257 million euros).
Vale has been present in Mozambique for 15 years, having operated the Moatize mine and 912 kilometres of railway in the Nacala Logistics Corridor for the transport of coal.
Vulcan is a private Indian company that is part of the Jindal Group, with a market value of 18 billion dollars (16.5 billion euros), and which was previously present in Mozambique, operating the Chirodzi mine, also located in the Tete region.
