Global Steel Holding secures multiple iron ore & coal leases in 3 countries
Global Steel Holdings Limited, the offshore investment outfit of the Pramod and Vinod Mittal-promoted Ispat group, has informed that the company has signed multiple iron ore leases with Brazil and for thermal and cooking coal exploratory blocks with Colombia and Mozambique.
In Colombia and Mozambique, the total coal reserves are estimated to be around 100 to 110 million tonnes of medium to high-grade coking and non-coking coal.
The Mozambique project is near to Arcelormittal, Tata Steel and CVRD coal projects in Tete region in the African nation.
It may take 12 to 18 months to complete exploratory works in Brazil after which we will decide on beginning exploratory activity, a company official stated.
GSHL's subsidiary Ispat Industries which operates a 3 million tonne steel plant in India may join hands with their parents and local partners by floating Special Purpose Vehicles in each of these nations.