INDIA'S LARGEST STEELMAKER has been sidelined by a legal dispute that's derailed its deal to buy a coal concession in Mozambique.
JSW Steel - run by Sajjan Jindal - agreed in May to buy Minas de Revuboe from the estate of Ken Talbot, an Australian mining tycoon who died 14 years ago. Before the deal could be completed, the Mozambican government revoked MdR's lease to mine coal valued at about $50 billion.
In August, two months after the licence was withdrawn from MdR, the ministry of mineral resources and energy published a notice in Mozambique's state-owned newspaper offering a 30-day window for any objections to the concession being awarded to Stonecoal. Four of Stonecoal's five directors are employed at Jindal Steel & Power, a company headed by Naveen Jindal, Sajjan's younger brother.
Esta historia es de la edición January 09, 2025 de Financial Express Delhi.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición January 09, 2025 de Financial Express Delhi.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Chants meet chatbots at this year's Maha Kumbh
FROM INFORMATION TO SECURITY, AI TO BE MAJOR MOVER AT THE MEGA EVENT
Trump tariffs: Auto suppliers rethink production plans
Trump has vowed to impose a blanket tariff of 10% on global imports into the US and a 60% tariff on Chinese goods
Premium online video market to double by 2028: Report
INDIA'S PREMIUM ONLINE video market, valued at $1.7 billion in 2023, is projected to nearly double by 2028, solidifying its position as one of the fastest-growing over-the-top (OTT) markets globally, according to the Asia Video Industry Report 2025.
RBI governor seeks to improve forecasting
Two of the sources Reuters spoke to said the RBI would look to increase datasets required to gauge trends in income and expenditure better.
Meta's fact-checking snub in US alarms India
As Meta announced the end of its third-party fact-check programme in the US, a move that is being seen as the company reorienting itself for the new Trump era, a palpable sense of panic has gripped fact-checkers in India.
TCS profit rises 4% in Q3
AMONG VERTICALS, ENERGY, resources and utilities grew by 3.4%, and consumer business gained 1.1%.
Taliban Urges India to Ease Visa Process
First High-Level Meet
Hollywood Hills burn as big blaze engulfs LA
THE HOLLYWOOD HILLS blazed uncontrollably on Thursday morning as the worst wildfires in the history of Los Angeles raged across the city and deep into the storied heartland of the American film industry.
Hush money: Court rejects Trump bid to delay sentencing
NEW YORK'S TOP court rejected on Thursday Donald Trump's request to halt the president-elect's sentencing for his conviction on criminal charges stemming from hush money paid to a porn star, with a decision on a possible delay now in the hands of the President-elect.
Biden to further limit Nvidia AI chip exports in final push
PRESIDENT JOE BIDEN'S administration plans one additional round of restrictions on the export of artificial intelligence chips from the likes of Nvidia just days before leaving office, a final push in his effort to keep advanced technologies out of the hands of China and Russia.
