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JSW Steel to develop coking coal mine in Mozambique
JSW Steel has taken a significant step to secure long-term coking coal supplies by launching the Minas de Revuboè (MdR) coking coal mining project in Mozambique’s Moatize coal basin, located in Tete Province.
This strategic backward integration move gives JSW Steel access to high-quality prime hard coking coal, a critical raw material for steel production, helping reduce dependency on volatile global markets and support cost optimisation.
The MdR project boasts substantial reserves: approximately 850 million tonnes total, with around 250 million tonnes of usable coking coal. JSW Steel plans phased development, with the first phase set for completion in about 2.5 years, targeting an initial production of 2.4 million tonnes per annum (mtpa) of premium hard coking coal.
The project aligns perfectly with JSW Steel’s ambitious growth plans, including its target to achieve 50 million tonnes per annum steelmaking capacity in India by 2030. By securing reliable, high-grade coking coal closer to home, JSW Steel aims to shield against price fluctuations, enhance supply chain security, and drive sustainable expansion in the steel industry.
Read the original article here: https://www.financialexpress.com/business/news/jsw-steel-to-develop-coking-coal-mine-in-mozambique/4172988/
Sunway Healthcare jumps 28% on debut after Malaysia’s biggest IPO in almost a decade
Malaysia’s Sunway Healthcare made a strong debut on the stock market, with its shares jumping 28% on the first day after raising $732 million in the country’s biggest IPO in nearly a decade. The stock opened above its offer price and closed significantly higher, reflecting strong investor demand.
The company is one of Malaysia’s leading private healthcare providers, which operates major hospitals, including Sunway Medical Centre in Kuala Lumpur. Its successful listing has helped Malaysia lead Southeast Asia in IPO proceeds this quarter.
The strong performance stands out against a mixed trend in other Asian markets, where some recent listings have struggled due to global uncertainties.
Read the original article here: https://www.msn.com/en-us/money/other/sunway-healthcare-jumps-28-on-debut-after-malaysias-biggest-ipo-in-almost-a-decade/ar-AA1YTGwO?ocid=BingNewsVerp
Mastercard to acquire crypto startup BVNK for up to $1.8 billion in largest stablecoin deal to date
Mastercard is buying a London crypto startup called BVNK for up to $1.8 billion—the biggest stablecoin deal ever. About $300 million of that is tied to future milestones, with the purchase wrapping up by year-end.
BVNK, started in 2021, helps businesses handle payments, international transfers, and treasury stuff using stablecoins. The deal came after rocky on-off talks where Coinbase almost snapped them up for $2 billion last November, but it fell through.
Read the original article here: https://www.msn.com/en-us/money/other/mastercard-to-acquire-crypto-startup-bvnk-for-up-to-1-8-billion-in-largest-stablecoin-deal-to-date/ar-AA1YPK4H?ocid=BingNewsVerp
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