The Jindal Steel Group, present in Mozambique through Vulcan — a mining company operating coal extraction in Moatize, Tete Province — has reaffirmed its commitment to expanding its investments in the country, with a focus on industrialisation, mining, exports, and social development.
The intention was expressed this Monday, 18 May, by company chairman Naveen Jindal during a meeting in Maputo with the President of the Republic, Daniel Chapo. According to the Mozambique Information Agency, the meeting reviewed the current state of the group’s operations in the country and discussed prospects for strengthening its presence in the Mozambican market.
Naveen Jindal described the discussion as positive and highlighted the head of state’s vision for national economic development.
“We had an excellent discussion, where the Government encouraged the group to expand its involvement in priority social areas, namely vocational training, education, industrialisation, sports, and programmes for the empowerment of women and girls,” he said.
He assured that the company will respond positively to the government’s appeal, consolidating existing investments and moving forward with new long-term projects. He also highlighted the role of Vulcan in the national market, particularly its contribution to export growth and job creation.
Jindal noted that the group has been operating in Mozambique for more than 15 years and praised the business environment, pointing to stability and institutional support as key factors behind the growth of its operations.
Beyond the industrial dimension, the company also expressed its intention to deepen community development programmes, focusing on creating opportunities for young people and strengthening technical and vocational training.
Vulcan is part of the Jindal Steel Group, which has a market value of 18 billion dollars, and already operated in Mozambique through the Chirodzi mine, also in the Tete region, consolidating its presence in the local mining sector.
In the past three years, Vulcan has produced more than 35 million tonnes of coal per year at the Moatize mine in Tete. The mine previously belonged to Brazil’s Vale, which operated it for several years. In April 2022, Vulcan acquired the operation for more than 270 million dollars (around 17 billion meticais).
Vale was present in Mozambique for 15 years, focusing on coal mining and managing 912 kilometres of railway on the Nacala Logistics Corridor, infrastructure that was sold together with the mine.
Source: Diário Económico
