Mozambique, a resource-rich country in southeastern Africa, is attracting fresh mining investment after Indian billionaire Sajjan Jindal’s Jindal Group committed $160 million to electrify its Vulcan-operated Moatize coal mine in Tete province.
The investment in Tete province will create a 300-megawatt power system to support mining operations, coal processing and rail transport, reducing reliance on diesel while improving efficiency at one of Mozambique’s largest coal projects.
Vulcan, a mining company owned by the Jindal Group, acquired the Moatize operation from Brazilian mining giant Vale in April 2022 for more than $270 million, taking control of the mine and the 912-kilometre Nacala Logistics Corridor used to export coal.
Jindal Group strengthens Mozambique presence
The Jindal Group, valued at about $18 billion, is controlled by Indian billionaire Sajjan Jindal, whose business interests span steel, mining, infrastructure and energy.
