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Stonecoal SA Submits Bid for Mozambique’s Major Revuboè Coal Concession Following Government Revocation — Stonecoal SA
MAPUTO, Mozambique, Sept. 12, 2025 (GLOBE NEWSWIRE) -- Stonecoal SA, represented by SVS CONSULTANTS FZCO, today announces the formal submission of its operational plan to develop the Revuboè basin’s multi-billion-dollar coal concession (4064C). This timely move follows the Mozambican government’s June 2024 decision to revoke the concession, previously held by Australian company Minas de Revuboè (MdR) for over a decade, due to inactivity and regulatory non-compliance. Photo Courtesy of SVS Consul
About this update from Jsw Steel Limited
[{"type":"text","content":"MAPUTO, Mozambique, Sept. 12, 2025 (GLOBE NEWSWIRE) -- Stonecoal SA, represented by SVS CONSULTANTS FZCO, today announces the formal submission of its operational plan to develop the Revuboè basin’s multi-billion-dollar coal concession (4064C). This timely move follows the Mozambican government’s June 2024 decision to revoke the concession, previously held by Australian company Minas de Revuboè (MdR) for over a decade, due to inactivity and regulatory non-compliance.","length":471,"tagName":"p"},{"type":"image","alt":"Stonecoal vs. MdR: Inside the Battle for Mozambique’s Multi-Billion-Dollar Coal Concession","displaySize":"","headline":null,"caption":"Stonecoal vs. MdR: Inside the Battle for Mozambique’s Multi-Billion-Dollar Coal Concession","className":"","disableSlideshowImg":false,"size":{"original":{"width":1200,"height":600,"url":"https://media.zenfs.com/en/globenewswire.com/a343415d996778da06041d07426f52d8"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/uJGNvlp0UjvMLeK2is_OZg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQ4MDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/a343415d996778da06041d07426f52d8","width":960,"height":480},"lightbox":{"url":"https://s.yimg.com/ny/api/res/1.2/1QgScJMAn25wgNmoXiP6sw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTI0MDA7aD0xMjAwO2NmPXdlYnA-/https://media.zenfs.com/en/globenewswire.com/a343415d996778da06041d07426f52d8","width":1200,"height":600}}},{"type":"text","content":"","length":0,"tagName":"p"},{"type":"text","content":"Photo Courtesy of SVS Consultants","length":33,"tagName":"p"},{"type":"text","content":"MdR, which first obtained the concession in 2013, remained inactive for more than ten years. In May 2024, MdR attempted to sell a 92% stake in the asset to India’s JSW Steel for $74 million—an action that reportedly breached Mozambique’s Mining Law, which prohibits transferring licenses without prior government approval. As a result, the Ministry of Mineral Resources and Energy formally withdrew MdR’s rights, underscoring Mozambique’s commitment to transparent governance and lawful management of major resources.","length":517,"tagName":"p"},{"type":"text","content":"Responding to this opportunity, Stonecoal SA—a Mozambican mining firm—submitted its new operational plan in August 2024, aiming to re-activate the Revuboè site in line with government priorities for economic revitalization...